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

The Financial Services Commission (FSC) in South Korea reaffirmed in a public statement on Nov. 5 that nonfungible tokens (NFT) are not virtual assets, and will not be regulated.

The confirmation of the decision to keep NFTs unregulated came after a review of the Financial Action Task Force’s (FATF) updated guidelines. The October 28 guidance 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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