The South Korean Financial Commission will investigate the level of transaction fees on cryptocurrency exchanges such as Bithumb and Upbit

According to South Korean media reports, the Financial Commission of South Korea plans to conduct an investigation into the fee levels of major cryptocurrency exchanges in the country, in order to assess whether current fees impose excessive burdens on users and explore the necessity of policy intervention. This investigation is one of the specific implementation steps of President Lee Jae ming's promise to reduce transaction fees for cryptocurrency during the campaign. The Financial Commission revealed in the work report of the National Policy Planning Committee that this investigation will cover major exchanges including Bithumb, Upbit, and Coinone, with a focus on studying the fee rate system, charging methods, and amounts. Meanwhile, reference will also be made to overseas cases to determine the reasonable level of handling fees. President Lee Jae myung had previously promised to reduce the current handling fee level of about 0.05% to 0.015%. The Financial Commission stated that this investigation is a preliminary preparation for the reduction of transaction fees, and a specific target fee rate has not yet been set. Policy standards will be formulated through comparative analysis of domestic and foreign exchanges and user convenience evaluation. Previous news, analysis: South Korean President Lee Jae myung's promise of cryptocurrency reform has not significantly boosted market enthusiasm, and the activity of cryptocurrency trading in South Korea is still at a low level.