New Korean Law Requires NFT Issuers to Register

The post New Korean Law Requires NFT Issuers to Register appeared first on Coinpedia Fintech News

Starting July 19, the Korean Virtual Asset User Protection Act will require NFT issuers to register as operators of virtual assets. This regulation targets NFTs with features such as large-scale issuance, divisibility, and use as payment methods. The enforcement of this new law aims to ensure greater user protection. Companies in the NFT space must now comply with these regulatory requirements to continue legally operating in South Korea.