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InvestmentsKorea's FSC confirms that NFTs will not be regulated By Cointelegraph

Korea’s FSC confirms that NFTs will not be regulated By Cointelegraph



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].”