The financial regulator of South Korea plans to investigate the transaction costs billed by the national cryptocurrency scholarships, aimed at reducing negotiation costs for users, according to local media.
The South Korea Financial Services Commission (FSC) will launch an investigation into the transaction costs imposed by local trading platforms and will examine the potential intermediate measures, the Herald economy reported on Thursday.
This decision is part of the widest Pro-Crypto agenda of the president of the president of the South-Myung South Korea. Lee would have promised to reduce the Crypto negotiation transaction costs to support young traders as part of his presidential campaign.
As part of the investigation, the FSC plans to conduct an investigation into crypto exchanges on their current expense systems, their load methods and the amounts collected.
Do local exchanges charge more than platforms abroad?
According to Herald Economy, the FSC announced its intention to investigate Crypto exchange costs during a political briefing before the State Affairs Planning Committee, which serves as a presidential transitional team for the Lee Jae-Myung administration.
“We must examine whether the current costs of internal exchanges are an excessive burden for consumers and if they are at an appropriate level compared to cases abroad,” said an FSC official.
The FSC has also mentioned that the authority has not yet set a target commission rate and plans to establish policy standards based on a comparative analysis of national and foreign exchanges and user preferences.
Review: China threatened by American stablecoins, G7 asked to tackle the Lazare group: Asia Express
This is a history in development, and additional information will be added as it will be available.
