With the enforcement of the Virtual Asset Users Protection Act, top three South Korean crypto exchanges Upbit, Bithumb, and Coinone are about to start paying regulatory fees. According to regulations, these fees will be levied based on the proportion of operating revenue, with an estimated total of 300 million KRW (approximately 220,000 USD). The calculation of the regulatory fees is based on the operating revenue of the virtual asset service provider in the previous business year and a specific sharing rate. Specifically, Upbit's fee is approximately 272 million KRW (around 199,000 USD), Bithumb's is around 365 million KRW, while Coinone and Gopax's fees are 603 million KRW and 83 million KRW respectively. The company Korbit, which had an operating revenue of approximately 1.7 billion KRW last year, is not included in the scope of entities required to pay regulatory fees. The actual collection work is planned to begin next year. It should be noted that 'regulatory fees' refer to quasi-taxes paid by financial institutions such as financial companies to the Financial Supervisory Service for inspections and corresponding supervision and services. Companies with operating revenues exceeding 3 billion KRW (approximately 2.2 million USD) are required to pay this fee.