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Crypto

Korea Weighs Crypto Market Makers Amid JPYC Price Surge

Guavy AI Editorial Team
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The price of JPYC, a stablecoin designed to track the Japanese yen, surged on Upbit, rising from its market opening price of 12 Korean won per token to 37.6 won in just one hour.

This sudden and significant increase has led South Korea's top financial regulator, the Financial Services Commission (FSC), to review whether it should introduce a formal market-making system for cryptocurrencies.

Yoo Young-joon, director of digital finance policy at the FSC, said that the agency would examine the issue further and consider introducing systems such as market-making activities to increase efficiency and stability in the digital asset landscape.

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