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South Korea’s top financial regulator has issued guidelines clarifying when non-fungible tokens (NFTs) are considered virtual assets. This distinction aims to minimize the risk of widespread user harm. The guidelines will be part of the Virtual Asset User Protection Act, effective July 19, 2024. FSC Issues New NFT Classification Guidelines On Monday, South Korea’s top … Read more
In the old days, people invested in gold as a store of wealth as its value was universal and largely stable. However, cryptos changed the game and attracted a lot of investment which otherwise would have gone to gold. But what if you could merge the two? This was the promise that swayed many investors … Read more
South Koreans in their 20s and 30s are excited about cryptocurrencies and are eager to invest. This is according to a study carried out by the Bank of Korea, the country’s central bank. The survey was released on Tuesday and showed general support for digital currencies in the East Asian nation despite recent drastic declines in … Read more
The South Korean government has continued to tighten its regulatory grip on the country’s cryptocurrency market, and this time, it’s going after banks directly. Government officials plan to conduct on-site inspections of 6 major Korean banks throughout the week to ensure that regulations for virtual accounts are being properly followed. These inspections are the latest … Read more
