South Korea Weighs Liquidity Rules for Won Stablecoins
6 Articles
6 Articles
It is estimated that investors have suffered massive losses as stablecoins pegged to the value of the Japanese yen have exhibited sharp price fluctuations since being listed on domestic exchanges. According to data submitted by the domestic virtual asset exchange Upbit to the office of Rep. Park Min-kyu of the Democratic Party of Korea, a member of the National Assembly's Political Affairs Committee, on the 27th, during the five days from the 17…
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Cryptocurrency News | Cryptocurrency Prices | Market CapSouth Korea weighs liquidity rules for won stablecoins
South Korean industry participants want liquidity safeguards added to won stablecoin rules after JPYC, PYUSD and EURC price spikes.
According to ChainCatcher, fiat-pegged stablecoins have recently experienced significant price deviations on South Korean virtual asset exchanges. The Japanese yen stablecoin JPYC saw its price rise to as high as four times its base price after listing, the euro stablecoin EURC surged over 400% in a single day on Bithumb, and the US dollar stablecoin PYUSD also showed a significant premium. Analysts believe these fluctuations stem from insuffici…
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