Crypto Exchanges Bypass Regulations with Perpetual Futures for Chinese Semiconductor Firm

Cryptocurrency exchanges have introduced financial instruments that allow foreign investors to invest in Chinese semiconductor firm ChangXin Memory Technologies (CXMT) by bypassing regulations.

The Financial Times reported that RateXYZ and Gate.io have launched perpetual futures contracts tracking the share price of CXMT ahead of its listing on the Shanghai Stock Exchange's STAR Market, scheduled for the 27th.

The volume of CXMT perpetual futures contracts reached $19 million over the past 24 hours, according to Coinglass.

Matthew Fisher, CEO of decentralized finance platform Katana, stated, 'We are moving beyond the tokenization of government bonds into real-time trading markets for assets such as foreign stocks and pre-IPO companies.'