South Korea weighs crypto market makers after JPYC trades at 4 times peg
60-second summary
South Korean regulators reconsider crypto market‑making rules after JPYC surged to four times its peg on Upbit, exposing gaps in the current manipulation framework that effectively bans such activity. The sharp price deviation prompts officials to weigh new guidelines, potentially easing restrictions to improve liquidity while still safeguarding against market abuse, influencing regional trading dynamics.
Crypto market making is effectively restricted under South Korea’s manipulation rules, but regulators are reconsidering the approach after a JPYC spiked on Upbit this month.