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

nftjedi

5 years ago

South Korean regulator FSC says NFTs are not virtual assets: report

By @egreechee https://t.co/RWS3I6TLDc
— CoinDesk (@CoinDesk) November 5, 2021

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)