South Korea's CEXs will begin paying regulatory fees, with an estimated total of about $220,000

BlockBeats reported that on August 1, with the implementation of South Korea's "Virtual Asset User Protection Act", virtual asset service providers such as Upbit, Bithumb and Coinone will also begin to pay regulatory fees. Regulatory fees are levied based on operating income, and the total amount is expected to be 300 million won (220,000 US dollars).

The regulatory sharing fee of virtual asset service providers will be calculated based on the operating income and sharing rate of the previous operating year. Based on the sharing rate in 2024, Upbit's fee is about 272 million won (199,000 US dollars), and Bithumb's is about 36.5 million won. Coinone and Gopax are 6.03 million won and 830,000 won respectively. Korbit, whose operating income last year was about 1.7 billion won, is not within the scope of paying regulatory sharing fees.

The actual collection of regulatory sharing fees will be implemented from next year. The "supervision fee" is a quasi-tax paid by financial institutions such as financial companies that are subject to inspection by the Financial Supervisory Service to the Financial Supervisory Service in exchange for supervision and services. Regulated companies with operating income of more than 3 billion won (2.2 million US dollars) will be levied.