South Korean regulator FSC rules NFTs exempt from crypto laws
The Financial Services Commission (FSC), South Korea's top regulatory agency, stated that NFTs are not subject to the same rules as cryptocurrency assets, and this ruling may stimulate token issuers and blockchain gaming companies. The FSC has previously established separate regulations for CBDCs. Legislators have also enacted laws that distinguish digital legal tender from tokens such as Bitcoin (BTC). The FSC claims that because NFTs are unique and irreplaceable, most NFT transactions are primarily for the purpose of collecting, so they pose limited risks to the financial system.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget Spot Margin Announcement on Suspension of DOG/USDT, ORDER/USDT, BSV/USDT, STETH/USDT Margin Trading Services
BGB holders' Christmas and New Year carnival: Buy 1 BGB and win up to 2026 BGB!
Bitget Trading Club Championship (Phase 20)—Up to 2400 BGB per user, plus a RHEA pool and Mystery Boxes
Subscribe to ETH Earn products for dual rewards exclusive for VIPs— enjoy up to 8% APR and share 30,000 USDT!
