Regulators in South Korea are reconsidering market-making rules after a JPYC price spike on Upbit triggered concerns over current crypto manipulation safeguards.
JPYC spiked to 4 times its yen peg on Upbit, prompting South Korean regulators to reconsider crypto market making rules.
South Korean financial authorities are re-evaluating crypto market-making regulations following a volatile trading incident on the Upbit exchange. The stablecoin JPYC surged to four times its intended yen peg, exposing potential gaps in current oversight and liquidity management protocols.
Regulators are reconsidering the approach after a JPYC price spike on Upbit highlighted potential vulnerabilities in current market manipulation rules.