With the implementation of the Virtual Asset User Protection Act, virtual asset service providers such as Upbit, Bithumb and Coinone will also begin paying regulatory fees. The regulatory fee is levied based on operating income and the total amount is expected to be 300 million won (220,000 US dollars). The regulatory share of virtual asset service providers will be calculated based on the operating income and share rate of the previous operating year. Based on the share rate in 2024, Upbit's fee is about 272 million won (199,000 US dollars), and Bithumb is about 36.5 million won. Coinone and Gopax are 6.03 million won and 830,000 won respectively. Korbit, which had an operating income of about 1.7 billion won last year, is not included in the scope of paying regulatory share. The actual collection of regulatory share will be implemented from next year. It is reported that the "regulatory fee" is a quasi-tax paid by financial companies and other financial institutions that are subject to inspection by the Financial Supervisory Service to the Financial Supervisory Service in exchange for supervision and services. Regulated companies with operating revenues of more than 3 billion won ($2.2 million) will be taxed.
