Breaking: South Korea’s regulators have issued a yellow card over “overseas perpetual contracts” 🇰🇷⚠️
On the afternoon of October 16, the Financial Services Commission and the Financial Supervisory Service of South Korea jointly issued a warning targeting perpetual contracts offered on overseas platforms:
🔹 Leverage typically ranges from 10x to 200x, meaning even a small price movement in the underlying asset could wipe out your entire principal
🔹 These products are not covered by investor protections under South Korean law, leaving investors with virtually no legal recourse in the event of an incident or dispute
🔹 Overseas platforms that illegally solicit users in South Korea will be referred to investigative authorities
This isn’t an isolated move. Earlier this week, on October 13, South Korea’s Financial Intelligence Unit blocked domestic access to the websites of 27 unregistered exchanges, including KuCoin, MEXC, Phemex, and BitMart.
First blocking access to the websites, then calling out high-leverage products—the direction of South Korea’s latest “licensed in, unlicensed out” regulatory push is now clear.
Do you think this regulatory wave will reach more Asian markets? 👇
#韩国收紧海外永续合约监管 #BTC #XRP
On the afternoon of October 16, the Financial Services Commission and the Financial Supervisory Service of South Korea jointly issued a warning targeting perpetual contracts offered on overseas platforms:
🔹 Leverage typically ranges from 10x to 200x, meaning even a small price movement in the underlying asset could wipe out your entire principal
🔹 These products are not covered by investor protections under South Korean law, leaving investors with virtually no legal recourse in the event of an incident or dispute
🔹 Overseas platforms that illegally solicit users in South Korea will be referred to investigative authorities
This isn’t an isolated move. Earlier this week, on October 13, South Korea’s Financial Intelligence Unit blocked domestic access to the websites of 27 unregistered exchanges, including KuCoin, MEXC, Phemex, and BitMart.
First blocking access to the websites, then calling out high-leverage products—the direction of South Korea’s latest “licensed in, unlicensed out” regulatory push is now clear.
Do you think this regulatory wave will reach more Asian markets? 👇
#韩国收紧海外永续合约监管 #BTC #XRP