The Virtual Asset User Protection Act now requires cryptocurrency providers like Upbit, Bithumb, and Coinone to pay supervision fees based on their operating revenue, following amendments to the Financial Services Commission's regulations. This supervision fee, set at 0.014% of operating revenue for financial investment companies, contributes significantly to the Financial Supervisory Service's budget. Upbit, for instance, will pay approximately KRW 141 million, while smaller exchanges like Korbit may be exempt due to lower revenues. Despite some industry expectations for a delay, the rapid growth and scrutiny of the virtual asset market prompted early implementation of the fees. Most exchanges, except Upbit and Bithumb, are operating at a loss, making these fees an additional burden.

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