JPYC spikes to 37.6 won on Upbit, over 4x its reference price
- —JPYC hit 37.6 won on Upbit, 4.3x its 8.8-won reference price
- —PYUSD rose from 1,379 to 1,760 won on Upbit; EURC hit 7,860 won on Bithumb, up over 400%
- —Industry wants issuer, minimum capital and reserve requirements in the rules
- —Proposals also include market makers and disclosure of price deviation from par
Why it matters: Stablecoin price blowouts on Korean exchanges show reserves alone are not enough — exchanges need dedicated liquidity mechanisms.
Source: TokenPost