The Financial Services Commission of South Korea has initiated an investigation into the fee structures of cryptocurrency exchanges following the presidential campaign promises.
Investigation of Exchange Fees
The Financial Services Commission (FSC) is conducting an investigation in response to President Lee Jae-myung's promise to reduce virtual asset transaction fees from the current 0.05% to 0.015%.
Goals and Methods of the Study
The investigation is directed at examining the current fee structures of major exchanges like Bithumb, Upbit, and Coinone. The FSC plans to conduct an in-depth analysis of the fees charged to determine the actual cost burden on users and assess whether fees are excessively burdensome compared to international practices.
Changes in Crypto Regulation
Subsequent regulatory updates include lifting the ban on institutional trading of cryptocurrencies and implementing stricter anti-money laundering requirements. Starting June 1, 2025, non-profit organizations will be allowed to sell donated digital assets while adhering to regulatory limits.
The investigation reflects broader initiatives aimed at supporting youth investment in cryptocurrencies and reducing barriers for the younger generation of investors.
