The Financial Services Commission (FSC) of South Korea confirmed in a public statement on November 5 that non-perishable tokens (NFTs) are not virtual assets, and will not be regulated.
Confirmation of the decision not to regulate NFTs came after a review of the Financial Action Task Force (FATF) updated guidelines. October 28 Indicative report from the Financial Action Task Force It states that “NFTs, or cryptographic holdings, depending on their characteristics are not generally considered [Virtual Assets]. “
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