Financial Services Commission and Financial Supervisory Service Confirm Supervision Contribution... Virtual Asset Exchanges 0.6%

The supervisory contribution rate for financial companies undergoing inspection by the Financial Supervisory Service (FSS) this year has been determined. The contribution rate for virtual asset service providers is approximately 0.6% of operating revenue.

On the 18th, the Financial Services Commission announced the '2025 FSS Supervisory Contribution Rate.' According to the announcement, the contribution rate for virtual asset service providers is 0.609% of operating revenue.

Dunamu, which operates the Upbit service, is expected to pay supervisory contributions exceeding 6.2 billion KRW this year (based on 2023 operating revenue). This is because their performance is expected to improve compared to the previous year. Bithumb and Coinone are also expected to pay supervisory contributions of around 800 million KRW and 100 million KRW respectively based on 2023 operating revenue, but they may have to pay more depending on the final settlement results.

The industry had anticipated that the supervisory contribution rate for virtual asset exchanges would be set at around 0.4%. However, there were criticisms that even this rate was high.

At last year's National Assembly audit, Kim Byung-hwan, Chairman of the Financial Services Commission, responded to concerns that virtual asset exchanges might have to pay supervisory contributions amounting to tens of billions of KRW by saying, "Supervisory demand has already increased even before collecting contributions from the virtual asset industry, and budgets have been allocated accordingly. Considering the past levels and proportions of contributions, the industry finds it difficult, but I believe it is a bearable level."

'Supervisory contributions' are fees paid by financial companies and institutions subject to inspection by the Financial Supervisory Service for supervision and services. Virtual asset exchanges were newly added this year. Following the enforcement of the Act on the Protection of Virtual Asset Users in July last year, virtual asset service providers are required to pay supervisory contributions to the FSS starting this year. Last year, the supervisory contributions received by the FSS amounted to 302.9 billion KRW, accounting for more than 70% of the FSS's total budget, representing a significant scale.