South Korea Crypto Exchanges Under Probe For Fee Hikes Post New Regulation

Quick Summary:

The Financial Supervisory Service (FSS) of South Korea has summoned five leading crypto exchanges in the wake of just implemented crypto laws, signaling heightened scrutiny of industry practices.

This move comes in the wake of aggressive fee hikes by major players in the market, sparking concerns about fair competition and user protection.

This article mandates that deposit usage fees must be “reasonably calculated” based on operating income and incurred expenses.

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Article Details

Category: Crypto

Markets: IndiaSouth Korea

Topics: Regulation News Crypto regulations Korbit Upbit Coinone 24/7 Cryptocurrency News Bithumb

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-24 @ 10:45:26 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 435 words

Reading Time: 3 minutes read

Sentences: 32 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21761292

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Main Topics: Crypto

Official Website: coingape.com

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News Last Updated: 8 hours ago

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