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South Korean financial authorities will step up monitoring of offshore platforms offering perpetual futures linked to South Korean stocks and stock indices, Yonhap Infomax reported. If authorities confirm illegal domestic business practices such as soliciting sign-ups or trades from South Korean residents, they plan to respond forcefully, including by filing complaints with investigative agencies.
South Korea’s Financial Services Commission and Financial Supervisory Service said today, while issuing an investor advisory on perpetual futures, which have recently seen wider trading on global virtual asset platforms and elsewhere, that investors should not mistake them for the same as or similar to financial investment products traded in the domestic securities market simply because they are labeled futures. The authorities added investors need to fully recognize that the products are extremely high-risk.