South Korea may introduce its first NFT regulatory rules

04/21 04:35

According to Asian Economic Report, South Korea may introduce its first NFT regulatory rules, which may be recognized as securities. The FSC Securities and Futures Commission admitted the day before Music Cow's right to claim royalties as securities, and the use of new blockchain technologies such as cryptocurrencies and NFTs is highly likely to be regulated. The Korean Financial Authority announced today that the Financial Services Commission of Korea will soon announce the "Policy on Fragmented Investment and Other New Securities Businesses" and advise other fragmented investors to study the nature of securities and take necessary measures according to the guidelines. "We are considering a plan to bring NFTs and cryptocurrencies into the subject of securities regulation and implement a grace period for business restructuring," an official from the regulator said.
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