Jun 10, 07:17 AM

South Korea's FSC to Classify Certain NFTs as Virtual Assets Under New Guidelines Effective July 19

South Korea's Financial Services Commission (FSC) has published new guidelines to classify certain non-fungible tokens (NFTs) as virtual assets under the 'Virtual Asset User Protection Act,' which will take effect on July 19. According to Yonhap news agency, the new guidelines will reportedly treat specific NFTs as regular cryptocurrencies. This regulatory change marks a significant shift in South Korea's approach to NFTs, aiming to provide clearer regulatory oversight and protection for users.

#South Korea #Financial Services Commission #FSC #Yonhap

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