South Korea imposes new supervisory fees on top exchanges
Upbit is expected to cough out the largest amount at nearly $103,000 in the Financial Services Commission’s new and unexpected fees, which some deem as legal recognition for the sector.
Upbit is expected to cough out the largest amount at nearly $103,000 in the Financial Services Commission’s new and unexpected fees, which some deem as legal recognition for the sector.
The Virtual Asset User Protection Act focuses on investor protection and mandate that exchanges keep at least 80% of user deposits in a cold wallet.
The move is aimed at curbing illegal outflow of investment and money laundering as Koreans purchase digital assets on offshore platforms, according to the Financial Services Commission.