[Alpha Biz= Reporter Kim Sangjin] Cryptocurrency Exchanges Expected to Pay 6 Billion Won in Supervision Fees Starting Next Year

According to the financial sector and regulatory authorities on August 7, the Financial Supervisory Service (FSS) has tentatively decided that domestic cryptocurrency exchanges will be required to pay an annual supervision fee of approximately 6 billion won starting next year. This supervision fee is a charge collected by the FSS for overseeing and inspecting financial institutions.

The fee is determined based on a percentage of the total liabilities or operating revenue of financial entities such as banks, securities firms, and insurance companies with annual revenues exceeding 3 billion won.

Reports indicate that the FSS has set the supervision rate at around 0.5%. Considering that major domestic cryptocurrency exchanges like Upbit (Dunamu), Bithumb, and Coinone had a combined revenue of approximately 1.2 trillion won last year, it is likely that the supervision fee for next year will be around 6 billion won.

 

 

 

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