South Korean regulators are reassessing rules governing crypto market makers, according to Techub News, which cited Cointelegraph. Under the country’s current market manipulation rules, crypto market-making activity has effectively been constrained. The review comes after a sharp dislocation involving the Japanese stablecoin JPYC on Upbit earlier this month. At one point, JPYC traded at four times its pegged exchange rate on the exchange. The episode has now become part of the backdrop for the regulatory review. No additional details on the scope of the reassessment or a timeline for potential rule changes were disclosed in the source material.
South Korean regulators are reassessing rules for crypto market makers, according to Techub News, citing Cointelegraph.
Under the country’s current market manipulation rules, crypto market-making activity has effectively been restricted.
The review comes after the Japanese stablecoin JPYC briefly surged to four times its pegged exchange rate on Upbit earlier this month, according to the report.
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