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 5.54 million U.S. dollars) in annual regulatory fees. The fee is set at 0.6%, higher than the initially estimated 0.4%. These fees are payable quarterly by the end of March, May, July and October each year. Except for Korbit (whose operating income is less than 3 billion won, about 2.08 million U.S. dollars), the fees are distributed as follows: Upbit operator Dunamu will pay 6.7 billion won (about 4.64 million U.S. dollars); Bithumb will pay 900 million won (about 624,000 U.S. dollars); Coinone will pay 150 million won (about 104,000 U.S. dollars); Gopax will pay about 21.35 million won (about 14,800 U.S. dollars). The total fees of the four major exchanges are about 7.9 billion won (about 5.54 million U.S. dollars).