South Korea’s monetary regulator plans to analyze transaction charges charged by home cryptocurrency exchanges, aiming to cut back buying and selling prices for customers, in response to native media.
South Korea’s Monetary Providers Fee (FSC) will launch a probe into transaction charges imposed by native buying and selling platforms and overview potential intervening measures, the Herald Financial system reported on June 19.
The transfer is a part of South Korea’s newly elected president Lee Jae-myung’s broader pro-crypto agenda. Lee reportedly promised to cut back crypto buying and selling transactions to help younger merchants as a part of his presidential marketing campaign.
As a part of the probe, the FSC plans to conduct a survey of crypto exchanges on their present price programs, charging strategies and picked up quantities.
Do native exchanges cost greater than abroad platforms?
In accordance with Herald Financial system, the FSC introduced its plan to analyze crypto trade charges throughout a coverage briefing earlier than the State Affairs Planning Committee, which serves as a presidential transition staff for the Lee Jae-myung administration.
“We have to study whether or not the present charges of home exchanges are an extreme burden on customers and whether or not they’re at an acceptable degree in comparison with abroad circumstances,” an FSC official reportedly stated.
The FSC additionally talked about that the authority has not but set a goal fee fee and plans to determine coverage requirements primarily based on a comparative evaluation of home and overseas exchanges and person preferences.
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It is a growing story, and additional data will probably be added because it turns into out there.
