South Korea’s monetary regulator plans to research transaction charges charged by home cryptocurrency exchanges, aiming to scale back buying and selling prices for customers, in keeping with native media.
South Korea’s Monetary Companies Fee (FSC) will launch a probe into transaction charges imposed by native buying and selling platforms and evaluation potential intervening measures, the Herald Economic system reported on Thursday.
The transfer is a part of South Korea’s newly elected president Lee Jae-myung’s broader pro-crypto agenda. Lee reportedly promised to scale back crypto buying and selling transaction prices 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 charge methods, charging strategies and picked up quantities.
Do native exchanges cost greater than abroad platforms?
In keeping with Herald Economic system, the FSC introduced its plan to research crypto change charges throughout a coverage briefing earlier than the State Affairs Planning Committee, which serves as a presidential transition crew for the Lee Jae-myung administration.
“We have to look at whether or not the present charges of home exchanges are an extreme burden on shoppers and whether or not they’re at an applicable stage 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 based mostly on a comparative evaluation of home and overseas exchanges and consumer preferences.
Journal: China threatened by US stablecoins, G7 urged to sort out Lazarus Group: Asia Categorical
This can be a growing story, and additional info can be added because it turns into accessible.
