South Korea’s Financial Services Commission and Financial Supervisory Service are stepping up monitoring of perpetual contracts linked to Korean stocks and stock indexes that are traded through global virtual asset platforms, according to Yonhap News Agency. The move targets products available on overseas crypto platforms and focuses on possible illegal business activities involving Korean residents. Regulators said that if they find overseas platforms soliciting Korean users to open accounts or trade these products, or engaging in other unlawful operations, they will refer the matter to investigative authorities. They also said they will respond with strict measures. The report points to a tougher stance on offshore platforms offering Korea-linked trading exposure to local users through crypto-market infrastructure.
South Korea’s Financial Services Commission and the Financial Supervisory Service are strengthening monitoring of perpetual contracts tied to Korean stocks and stock indexes that are traded through global virtual asset platforms, according to Yonhap News Agency.
If regulators find that overseas platforms have engaged in illegal business activities such as soliciting Korean residents to open accounts or trade, they will refer the case to investigative authorities and take strict measures.
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