South Korean financial authorities will strengthen supervision of offshore "perpetual contract" platforms.

PANews October 16 news, 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" related 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, the regulatory authorities will take a hard line, including reporting them to law enforcement agencies. At the same time, the regulatory authorities will also assess whether such overseas products have had an impact on South Korea's domestic stock market. In addition, the regulatory authorities also plan to communicate with major overseas platforms that provide "perpetual contract" products linked to South Korea's domestic market, requiring them to cooperate with regulation to ensure that their operations do not violate South Korean law.

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