According to CoinMeta, South Korea plans to legalize market-making through the "Digital Assets Basic Act." JPYC went live on Upbit on September 17th, with its price soaring from 12 Korean won to 37.6 Korean won, representing a more than three-fold increase. Due to South Korea's "Virtual Assets User Protection Act" which prohibits market-making, the initial trading volume of Upbit reached 2.4 trillion Korean won. Over 21,200 investors purchased it at a premium of more than 10%, involving an investment of about 260 billion Korean won. As of September 21st, there were still 3,792 people with a floating loss of nearly 5 billion Korean won.