South Korea weighs crypto market makers after JPYC trades at 4 times peg

South Korea is reconsidering its approach to crypto market makers after JPYC traded at four times its peg on Upbit. Currently, market making is effectively restricted under the nation's manipulation rules. Regulators are now weighing the legalization of these entities to stabilize crypto markets. This regulatory reassessment aims to foster investor confidence and potentially boost market participation, addressing the volatility seen during the recent JPYC price spike on the Upbit exchange.