Asia's Stablecoin Rulebooks Diverge as Yen Token JPYC Spikes 4x on Upbit

• —JPYC opened at 9–12 won on Upbit on September 17 and hit about 37 won within the first hour
• —The issuer minted roughly 1.69 billion yen of JPYC, lifting supply from 1.9 billion to 4.2 billion yen in 48 hours
• —Korea bans market-making on crypto exchanges, leaving no authorized liquidity provider
• —Korea's FSC said on September 28 it would review market-making rules, without a timeline