South Korea’s FSC to Investigate Trading Fees of Local Crypto Exchanges

South Korea's Financial Services Commission (FSC) will examine trading fees of local cryptocurrency exchanges. This initiative follows President Lee Jae-myung's pledge to reduce transaction costs for virtual assets.

The Planned Investigation

The FSC will conduct a survey of domestic exchanges to analyze fee structures and transaction fees.
The investigation will check if exchanges are disclosing information regarding fees.
No specific commission rate has been set; guidelines will be developed after comparing local and international exchanges.
Major platforms like Bithumb, Upbit, and Coinone will be reviewed.
The aim is to determine if current fees burden consumers excessively compared to international standards.
This investigation is part of the youth asset formation support policy.
Post-investigation, the FSC will evaluate the reasonableness of fees and may intervene in setting them.

Additionally, a new bill has been introduced to establish a licensing framework for stablecoin issuers, targeting the development of a stablecoin pegged to the Korean won.