South Korea weighs legalizing crypto market makers after JPYC trades at 4 times its peg on Upbit
- —JPYC debuted on Upbit on September 17 at about 12 KRW, then surged to 37.6 KRW
- —21,219 investors bought JPYC at premiums above 10%, spending roughly 260 billion KRW
- —By September 21, 3,792 investors held unrealized losses of about 5 billion KRW
- —Upbit handled over 54% of global JPYC spot volume
Why it matters: Legalizing market-making in South Korea would reduce listing manipulation risks and improve liquidity for investors.
Source: Crypto Briefing