South Korea's Financial Services Commission (FSC) is considering a formal market-making framework for digital assets following a sharp price surge of the yen-pegged stablecoin JPYC on Upbit. After JPYC's listing on September 17, its price briefly rose to more than four times its reference value due to limited liquidity, causing significant losses for retail investors. Over 21,000 investors bought JPYC at inflated prices, totaling about 259.9 billion won. The FSC's review aims to improve market stability and investor protection, but no immediate rule changes have been announced. This review coincides with ongoing work on South Korea's Digital Asset Basic Act, which will address stablecoins and exchange regulations.
South Korea's FSC review of crypto market-making rules follows a JPYC stablecoin price surge that affected over 21,000 investors. For readers following the broader cryptocurrency market, here is Pluang's market snapshot as of Sep 28, 2026 23:32 WIB: out of 50 major cryptocurrencies, 11 rose and 38 fell. Notable movers include LINK up 7.05% at Rp270.751 with a typical hold time of 63 days and a near-even buy/sell split, UNI down 6.84% at Rp161.491 with 65% buy activity, and ATOM down 6.45% at Rp31.332 with 80% sell activity.
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