NFTs will not be regulated in crypto-friendly Korea, the ministry confirms

The Financial Service Commission (FSC) of South Korea has restated in a public statement today that non-fungible tokens (NFTs) are not virtual assets and hence will not be regulated.
The confirmation to keep NFTs unregulated came after a review of the Financial Action Task Force (FATF) in the US. The guidance report issued by FATF states that “NFTs or crypto-collectibles based on their characteristics are generally not considered virtual assets.”
A fresh statement issued by an official from FSC states that “due to the FATF position on NFT regulation, we will not issue regulations for NFTs.”
South Korean experts believe NFTs prices can be manipulated 
While NFTs may have been soaring high in popularity, South Korean authorities are still skeptical about the innovation. According to a local news outlet Herald Corp, financial experts in South Korea presume that NFT prices can be manipulated and used for money laundering-related activities.
The majority of experts in Korea are of

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