South Korea Takes Aim: NFTs Now Subject To Regulation

Quick Summary:

South Korea’s Financial Services Commission (FSC) has unveiled a new regulatory framework for non-fungible tokens (NFTs).

The guidelines, issued ahead of the upcoming Virtual Asset User Protection Act taking effect on July 19th, 2024, aim to bring clarity and structure to the burgeoning NFT market while safeguarding investors and fostering responsible innovation.

This includes providing real-world examples and case studies to help businesses confidently classify their NFTs.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: HungarySouth Korea

Topics: Crypto news Regulation Crypto News Crypto NFT

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-10 @ 13:00:43 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 434 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21206572

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 9 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 8 hours ago

Coverage Areas: Hungary

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Publication Timezone: GMT +8:00

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Publisher ID: #105

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