South Korea to Treat Select NFTs as Regular Cryptocurrencies Under Virtual Asset User Protection Act: Report

South Korean regulators will classify bulk or large scale non-fungible tokens (NFTs) as virtual assets. With this, South Korea could become one of the first countries to define where NFTs stand in-terms of their role and use in the Web3 arena.South Korean regulators will classify bulk or large scale non-fungible tokens (NFTs) as virtual assets. With this, South Korea could become one of the first countries to define where NFTs stand in-terms of their role and use in the Web3 arena.