South Korea decides NFTs are not virtual assets, should be unregulated — for now

  • South Korea’s Financial Services Commission (FSC) issued a report concluding that non-fungible tokens (NFTs) are not virtual assets.
  • NFTs will not be regulated (in contrast with cryptocurrency.
  • FSC also stated that it would review NFTs on a case-by-case basis and that NFTs used for payments or investments could constitute virtual assets, subjecting them to regulation. (CoinDesk)