South Korea to investigate fees by local crypto exchanges

South Korea’s fiscal regulator plans to analyse transaction fees charged by home cryptocurrency exchanges, aiming to trim trading costs for users, according to section media.

South Korea’s Financial Services Commission (FSC) volition motorboat a probe into transaction fees imposed by section trading platforms and reappraisal imaginable intervening measures, the Herald Economy reported connected June 19.

The determination is portion of South Korea’s recently elected president Lee Jae-myung’s broader pro-crypto agenda. Lee reportedly promised to trim crypto trading transactions to enactment young traders arsenic portion of his statesmanlike campaign.

As portion of the probe, the FSC plans to behaviour a survey of crypto exchanges connected their existent interest systems, charging methods and collected amounts.

Do section exchanges complaint much than overseas platforms?

According to Herald Economy, the FSC announced its program to analyse crypto speech fees during a argumentation briefing earlier the State Affairs Planning Committee, which serves arsenic a statesmanlike modulation squad for the Lee Jae-myung administration.

“We request to analyse whether the existent fees of home exchanges are an excessive load connected consumers and whether they are astatine an due level compared to overseas cases,” an FSC authoritative reportedly said.

The FSC besides mentioned that the authorization has not yet acceptable a people committee complaint and plans to found argumentation standards based connected a comparative investigation of home and overseas exchanges and idiosyncratic preferences.

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This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.