PANews reported on March 18 that according to the Electronic Times, the Financial Supervisory Service (FSS) of South Korea has required crypto exchanges to pay a total of 7.9 billion won (about $554,000) in annual regulatory fees. The fee is set at 0.6%, higher than the initially expected 0.4%. These fees need to be paid quarterly by the end of March, May, July and October. Except for Korbit (whose operating revenue is less than 3 billion won, about $2.08 million), the fee allocation is as follows: Dunamu, the operator of Upbit, will pay 6.7 billion won (about $464,000); Bithumb will pay 900 million won (about $62,400); Coinone will pay 150 million won (about $10,400); Gopax will pay about 213.5 million won (about $14,800). The total fee for the four major exchanges is about 7.9 billion won (about $554,000).