Korean financial regulators are tightening oversight of overseas "perpetual contracts," with entities suspected of illegal operations to be referred for judicial investigation.

According to Yonhap News Agency, South Korea’s Financial Services Commission and Financial Supervisory Service are intensifying monitoring of "perpetual contracts" linked to Korean stocks and stock indices that are traded on global virtual asset platforms. Should illegal business activities, such as soliciting account openings or trades from Korean residents, be detected on overseas platforms, regulators will refer the cases to investigative agencies and take stringent countermeasures.