South Korea’s FSC to Review Crypto Market-Maker Legalization Following JPYC Price Spike

South Korea’s Financial Services Commission (FSC) announced plans to review the legalization of crypto market makers following a significant price deviation of JPYC on the Upbit exchange. The current ban on market-making activities under the Virtual Asset User Protection Act (VAUPA) was highlighted as a contributing factor to order-book instability during the incident, which was discussed at The Bridge Summit 2026 in Seoul on September 28.