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Home ยป South Korea to Classify NFTs as Virtual Assets Allowing Mass Issuance
NFT

South Korea to Classify NFTs as Virtual Assets Allowing Mass Issuance

By adminJun. 10, 2024No Comments1 Min Read
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South Korea to Classify NFTs as Virtual Assets Allowing Mass Issuance
South Korea to Classify NFTs as Virtual Assets Allowing Mass Issuance
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In accordance with the latest guidelines, ordinary NFTs that are traded for the purpose of collecting content will continue to be treated separately from virtual assets. Nevertheless, NFTs that possess qualities similar to virtual assets will be subjected to identical regulations. It has been reported by local media outlet News1 that companies involved in issuing these particular NFTs must comply with the regulations governing virtual asset businesses and report their activities to the relevant authorities.

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