#SouthKoreaTightensOversightOfOverseasPerpetualContracts
🇰🇷 Korea Warns on 200x Perps Tied to Korean Stocks
📅 Oct 16: the Financial Services Commission issued an alert on perpetual futures sold by offshore platforms, incl. overseas crypto exchanges.
📊 Some offer Samsung and SK hynix perps at 10x to 200x leverage.
⚠️ The FSC says they aren't permitted in Korea and fall outside Korean investor protection.
🔍 If a platform fails or halts trading, Korean legal remedies are hard to apply.
🚨 Illegal local solicitation will be referred to investigators.
🔄 Allowing similar products at home is under review.
What it means for crypto: stock perps are a fast-growing exchange product, and regulators are watching. Expect more scrutiny of leveraged stock products in Asia.
Would you trade stock perps on a crypto exchange? 👇
$BTC
#SouthKoreaTightensOversightOfOverseasPerpetualContracts #CryptoNews #Korea #Derivatives
🇰🇷 Korea Warns on 200x Perps Tied to Korean Stocks
📅 Oct 16: the Financial Services Commission issued an alert on perpetual futures sold by offshore platforms, incl. overseas crypto exchanges.
📊 Some offer Samsung and SK hynix perps at 10x to 200x leverage.
⚠️ The FSC says they aren't permitted in Korea and fall outside Korean investor protection.
🔍 If a platform fails or halts trading, Korean legal remedies are hard to apply.
🚨 Illegal local solicitation will be referred to investigators.
🔄 Allowing similar products at home is under review.
What it means for crypto: stock perps are a fast-growing exchange product, and regulators are watching. Expect more scrutiny of leveraged stock products in Asia.
Would you trade stock perps on a crypto exchange? 👇
$BTC
#SouthKoreaTightensOversightOfOverseasPerpetualContracts #CryptoNews #Korea #Derivatives