Virtual Asset Businesses to Pay Supervisory Fees from Next Year…Targeting Upbit, Bithumb, etc.

It has been announced that from next year, virtual asset businesses will be subject to supervisory fees. According to the industry on the 3rd, the amendment to the Financial Services Commission Establishment Act was passed at the National Assembly. The amendment stipulates that virtual asset businesses designated as inspection targets by the Financial Supervisory Service under the Virtual Asset User Protection Act will be charged supervisory fees. Accordingly, from next year, virtual asset businesses like Upbit, Bithumb, and Coinone will have to pay supervisory fees. On the other hand, supervisory fees mean the fees that financial companies pay for the supervisory services provided by the Financial Supervisory Service. The supervisory fees are based on business income.