NFTs considered as virtual assets are eligible to receive interest when deposited to exchanges according to the FSC’s guidelines published in 2023.
South Korea’s financial watchdog, the Financial Services Commission (FSC), issued guidelines clarifying when nonfungible tokens (NFTs) can be treated as virtual assets.
On June 10, local media outlet News1 reported that the FSC will regulate NFTs similarly to crypto if they don’t possess traits that differentiate them from virtual assets.
According to the regulator, NFTs that are mass-produced, divisible and can be used as payment will be considered virtual assets.
