South Korea’s financial regulator plans to investigate transaction fees charged by domestic cryptocurrency exchanges, aiming to reduce transaction costs for users.
The Korea Financial Services Commission (FSC) will launch an investigation into transaction fees imposed by local trading platforms and review potential intermediate measures, Pioneer Economy Report Thursday.
This move is South Korea’s newly elected president Lee Jae-Myung A broader Pro-Crypto agenda. According to reports, Li promise To reduce the cost of crypto trading transactions to support young traders, it was part of his presidential campaign.
As part of the investigation, the FSC plans to conduct a survey of cryptocurrencies on its current fee system, charging methods and collection amounts.
Local exchanges charge more fees than overseas platforms?
According to data from Herald Economy, the FSC announced plans to investigate cryptocurrency exchange fees in a policy briefing of the National Affairs Planning Commission, the presidential transition team of the Lee Jae-Myung administration.
“We need to study whether the current costs of domestic exchanges are too much burden on consumers and whether they are at the right level compared to overseas cases,” FSC officials reportedly said.
The FSC also mentioned that the Authority has not set a target commission rate and plans to establish policy standards based on comparative analysis of domestic and foreign exchanges and user preferences.
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This is a developing story and will add more information when it is available.
