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      South Korean financial authorities to strengthen regulation of offshore "perpetual contract" platforms

      PANews, October 16 - According to Yonhap News Agency, South Korea's Financial Services Commission and Financial Supervisory Service will strengthen monitoring of offshore platforms that trade "perpetual contracts" linked to Korean stocks and stock indices. If any illegal business activities are discovered (such as soliciting Korean residents to register through referral codes, or collecting commissions), regulators will take a firm stance, including reporting to law enforcement agencies. At the same time, regulators will also assess whether such overseas products have affected the domestic Korean stock market. In addition, regulators plan to communicate with major overseas platforms that offer "perpetual contract" products linked to the Korean domestic market, requiring them to cooperate with regulation and ensure their operations do not violate Korean law.


      Source: PANews
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