The progress of cryptocurrency regulation in South Korea has driven KakaoPay's stock price to rise 45% over the past 5 days.

Gate News bot news, South Korea's friendly stance on Crypto Assets has propelled the rise of local stocks such as mobile payment and digital Wallet service KakaoPay. According to Google Finance data, KakaoPay's stock price has risen by 45% in the past five days.

However, JPMorgan analysts Stanley Yang and Jihyun Cho stated, "The rise of Kakao-related stocks fundamentally lacks reliable justification, as any specific benefits from Lee Jae-myung's stablecoin policy remain uncertain."

Source: Cointelegraph