NEWS
2024.06.13
Assessment of the FSC's NFT Virtual Asset Guidelines
Service area
Lawyer
The Financial Services Commission has issued guidelines to clarify the legal nature of NFTs. The guidelines provide criteria for determining whether NFTs qualify as securities or virtual assets, and should be reviewed by NFT issuers and investors. In particular, economic substance is important, and NFTs that are merely collectible may be excluded as virtual assets. NFT platforms may be regulated as virtual asset operators, and their legal nature should be carefully reviewed. Partner attorney Ohoon Kwon praised the guidelines as an effort to resolve legal uncertainty and increase predictability.
URL : Assessment of the FSC's NFT Virtual Asset Guidelines
