Korea's Financial Services Commission considers introducing a virtual asset market maker system, plans to re-examine market-making mechanisms

Odaily reports that Yoo Young-jun, Digital Finance Policy Officer at South Korea's Financial Services Commission, stated that the commission is considering introducing a market maker system for the virtual asset market to enhance market efficiency and stability. Currently, the Virtual Asset User Protection Act prohibits market-making activities, and the Financial Services Commission plans to re-examine and consider introducing such a mechanism during the second phase of legislation. Yoo Young-jun also stated that exchanges need to possess sufficient capital and operational capabilities, and that core functions such as trade execution, trading support, and abnormal transaction monitoring may shift from self-regulation to public law regulation; governance rules for major shareholders and management are expected to be strengthened. Once the bill is enacted, it is expected to promote business model diversification, the building of a trusted trading environment, the development of digital asset issuance and disclosure systems, and the advancement of Korean won stablecoins and user protection mechanisms.