Yoo Yong joon: The Financial Commission of South Korea is considering introducing a virtual asset market maker system

Yoo Yong joon, the digital finance policy officer of the Korea Financial Services Commission, stated that they are considering introducing a market maker system for the virtual asset market to enhance market efficiency and stability. FSC plans to re-examine and consider introducing this mechanism in the second stage of the legislative process. Exchanges need to have sufficient capital and operational capabilities, and their core functions may shift from self regulatory supervision to public law regulation. Relevant governance rules for major shareholders and management are expected to be strengthened. (Source: Korea Financial Commission)