South Korea to Classify Certain NFTs as Cryptocurrencies Under | Crypto Shake

South Korea to Classify Certain NFTs as Cryptocurrencies Under New Regulations: Report

South Korea's Financial Services Commission (FSC) has issued new guidelines to regulate certain NFTs as regular cryptocurrencies if they are mass-produced, exchangeable, fractionalized, or used for payments. NFTs with little economic value will remain classified as regular NFTs. The FSC will review NFTs on a case-by-case basis and may classify them as financial securities if they meet specific criteria under the Capital Markets Act.