New Crypto Exchange Deposit Fee Calculation Standards Released

The Digital Asset Exchange Joint Consultative Association (DAKSA) has released a “User Deposit Fee Rate Calculation Model Standard” to help cryptocurrency exchanges reasonably set customer deposit fee rates. The standard is a response to the Virtual Asset User Protection Act (VAUPA), which came into effect in July and aims to provide guidelines to reduce intense competition among exchanges. According to the standard, exchanges must calculate user fee rates taking into account their revenues and expenses, must not discriminate, and must rebalance their fee rates every quarter. The rebalanced user fee rates will be published in advance, and DAX will provide a service to compare and publish exchange fee rates.

The standard is specifically designed to enhance user protection and increase transparency and trust in the crypto industry. The rebalancing of fees is intended to prevent certain exchanges from gaining a competitive advantage through excessively low fees and to ensure that customers are provided with fair and consistent services. By creating a level playing field between exchanges, the standard aims to help users make informed choices.

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