South Korea FSC Labels Mass-produced NFTs as virtual Assets
The Financial Services Commission (FSC) OF South Korea has issued guidelines that categorize nonfungible tokens (NFTs) as virtual assets. The FSC will regulate NFTs like crypto if they do not exhibit characteristics that distinguish them from virtual assets, according to a report by local media outlet News1 on June 10. Virtual assets will be defined […]
South Korea FSC Exempts NFTs, CBDCs from Crypto Interest
The Financial Services Commission (FSC) of South Korea has notified that users who deposit digital assets in exchanges will be eligible for interest. However, nonfungible tokens (NFTs) and central bank digital currencies (CBDCs) are exempted from the regulations Local media agencies reported on December 10 that the FSC intends to issue the legislative guidance. The […]