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

South Korea‚Äôs 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.…

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