Today in crypto, South Korea’s Financial Services Commission (FSC) will investigate fees charged to users by local crypto exchanges, US President Donald Trump has told House lawmakers he wants a stablecoin bill on his desk “ASAP,” and China’s central bank is making an international operations center to broaden the global reach of its digital yuan.
South Korea to investigate fees of local crypto exchanges
South Korea’s financial regulator plans to investigate transaction fees charged by domestic cryptocurrency exchanges, aiming to reduce trading costs for users, according to local media.
South Korea’s FSC will launch a probe into transaction fees imposed by local trading platforms and review potential intervening measures, the Herald Economy reported on Thursday.
The move is part of South Korea’s newly elected president Lee Jae-myung’s broader pro-crypto agenda. Lee reportedly promised to reduce crypto trading transaction costs to support young traders as part of his presidential campaign.
As part of the probe, the FSC plans to conduct a survey of crypto exchanges on their current fee systems, charging methods and collected amounts.
According to Herald Economy, the FSC announced its plan to investigate crypto exchange fees during a policy briefing before the State Affairs Planning Committee, which serves as a presidential transition team for the Lee Jae-myung administration.
“We need to examine whether the current fees of domestic exchanges are an excessive burden on consumers and whether they are at an appropriate level compared to overseas cases,” an FSC official reportedly said.
The FSC also mentioned that it has not yet set a target commission rate and plans to establish policy standards based on a comparative analysis of domestic and foreign exchanges and user preferences.
Trump wants stablecoin bill “to my desk, ASAP”
US President Donald Trump told House lawmakers on Thursday that he wants the stablecoin-regulating GENIUS Act on his desk as soon as possible, so he can sign it into law before Congress goes on a month-long break in August.
”The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets,” Trump posted on his Truth Social platform. He added he hoped the House would “move LIGHTNING FAST, and “pass a ‘clean’ GENIUS Act.”
”Get it to my desk, ASAP — NO DELAYS, NO ADD ONS,” Trump wrote.
The Senate passed the GENIUS Act in a 68-30 vote on Tuesday but saw delays and debate after Democrats pulled support for the bill last month, airing concerns about Trump’s conflict of interest from his sprawling crypto businesses.
It will now head to the House, where Republicans hold a slim majority over Democrats.
Chinese Central Bank pledges global expansion of digital yuan — Report
China’s central bank chief Pan Gongsheng has pledged to expand the footprint of the digital yuan, reaffirming the country’s vision for its central bank digital currency (CBDC).
According to a Reuters report, China is creating an international operations center in Shanghai for the digital yuan, also known as digital yuan. Pan made the remarks at the Lujiazui Forum, a professional forum for high-profile local and international finance regulators and executives.
China envisions a “multipolar” currency system where multiple currencies support the global economy, Pan said. This vision contrasts with the current system, where a few currencies, like the US dollar and the euro, play large roles in the global financial system.
The US dollar, in particular, may have become less appealing to investors in 2025, partly due to the unscripted rollout of tariffs by US President Donald Trump over the past months.
Pan also weighed in on digital technologies, claiming that traditional cross-border payment systems are vulnerable to geopolitical risk.
“Traditional cross-border payment infrastructures can be easily politicized and weaponized, and used as a tool for unilateral sanctions, damaging global economic and financial order,” he said.
