With the implementation of the "Virtual Asset User Protection Law", virtual asset service providers such as Upbit, Bithumb, and Coinone will also begin to pay regulatory fees. The regulatory fee is levied based on operating income, with a total amount expected to be 300 million Korean won (220,000 US dollars).
The regulatory burden sharing of virtual asset service providers will be calculated based on the operating income and burden sharing rate of the previous fiscal year. Based on the burden sharing rate in 2024, Upbit's cost is approximately 272 million Korean won (199,000 US dollars), Bithumb is approximately 36.5 million Korean won, Coinone and Gopax are 6.03 million Korean won and 830,000 Korean won, respectively. Korbit, with an operating income of approximately 1.7 billion Korean won last year, is not within the scope of paying regulatory burden sharing fees. The actual collection of regulatory burden sharing fees will begin next year.
It is reported that "regulatory fees" are quasi-tax fees paid by financial institutions and other financial companies that accept inspections by financial regulatory agencies to the financial regulatory agencies in exchange for regulation and services. Regulatory objects with operating income of more than 3 billion Korean won (2.2 million US dollars) will be subject to collection.
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