Growth of Perpetual Futures in Overseas Cryptocurrency Exchanges Calls for Domestic Investor Protection

In the virtual asset market, the expansion of perpetual futures into domestic stocks such as Samsung Electronics and SK Hynix has raised the need for institutional reforms to protect domestic investors. Nam Gil-nam, a senior researcher at the Capital Market Research Institute, stated in a report titled "Incorporation of Perpetual Futures into the Regulatory Framework and Changes in the Derivatives Market" that measures to protect investors are necessary due to the growth of offshore perpetual futures related to domestic stocks. Perpetual futures are derivatives without an expiration date, which gained traction when BitMEX launched Bitcoin perpetual futures in 2016. Since 2026, perpetual futures have been expanding from digital assets into traditional financial markets, with Binance launching perpetual futures based on gold and silver. According to the report, the cumulative trading volume of Korean individual stock perpetual futures traded on overseas digital asset exchanges from February 19 to August 8 reached approximately $176 billion, with SK Hynix accounting for 92%. Nam emphasized the need for regulatory measures at the level of financial investment businesses for offshore perpetual futures, expressing concerns about the weakening of the price discovery function in the domestic market.

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