TechFlow news — On December 3, according to Korean media inews24, the South Korean Financial Services Commission (FSC) passed an amendment to the Enforcement Decree of the "FSC Establishment Act." Cryptocurrency exchanges such as Upbit, Bithumb, and Coinone will begin paying regulatory fees starting January 2025. The fees will be calculated based on operating revenue, with a projected rate of approximately 0.5% of revenue.
Preliminary estimates suggest that Upbit's annual regulatory fee will be around 5 billion KRW, while Bithumb and Coinone are expected to pay about 600 million and 100 million KRW respectively. Korbit, with revenue of only 17 billion KRW, is anticipated to be exempt from payment. These regulatory fees will fund FSC inspection and supervision services, accounting for 75.1% of the financial regulator’s annual budget.
