South Korea's Financial Services Commission is considering introducing a market maker system for the digital asset market.

Digital Asset reports that South Korea’s Financial Services Commission (FSC) is studying the introduction of a market maker system for the virtual asset (digital asset) market. As the current Virtual Asset User Protection Act bans market making activities, the discussions are interpreted as the FSC’s plan to allow such activities in the second phase of its digital asset legislation. Yoo Young-joon, Director of Digital Financial Policy at the FSC, stated on September 28 that the agency will study introducing relevant systems including market making to boost the efficiency and stability of the digital asset market. Currently, the Virtual Asset User Protection Act does not provide exceptions for market making, so such actions may be classified as unfair trading practices like market manipulation and thus restricted. Yoo also noted that the future digital asset basic law will likely strengthen oversight over exchanges, fair trading, corporate governance, and conflicts of interest, while promoting the diversification of the digital asset industry. Specific measures include expanding businesses such as custody, trading, brokerage, asset management, and investment advisory, establishing a digital asset issuance and disclosure framework, advancing the won-denominated stablecoin, and enhancing user protection. Core functions of exchanges—including order matching, token listing, and abnormal transaction monitoring—may also gradually shift from the current self-regulatory framework to the public regulatory system.