The Financial Services Commission (FSC) in South Korea reaffirmed in a public assertion on Nov. 5 that nonfungible tokens (NFT) are not digital property, and will not be regulated.
The affirmation of the choice to maintain NFTs unregulated got here after a overview of the Financial Action Task Force’s (FATF) up to date pointers. The October 28 steerage report from FATF states that “NFT, or crypto-collectibles, depending on their characteristics are generally not considered to be [Virtual Assets].”
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