South Korea to introduce stock-style market makers for crypto

South Korean financial authorities plan to introduce a market maker (MM) system for the crypto asset market, The Korea Economic Daily reported exclusively. According to sources in the National Assembly and the crypto industry, the Financial Services Commission (FSC) intends to include provisions to legalize market-making activities in a foundational act on digital assets scheduled for release this month. The policy aims to adapt the existing market maker system from the stock market for crypto assets, with the goal of having professional institutional investors provide bid and ask quotes to increase trade execution speed and reduce price volatility.