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South Korean Regulator Says NFTs Aren’t Cryptoassets – and (Probably) Won’t Tax Them

South Korea’s top financial regulator says that non-fungible tokens (NFTs) are not cryptoassets – and will likely exclude them from capital gains taxation. The status...

[NOVEMBER] Your Experience Authenticated: NFTs Go Meta

If a luxury item is purchased but there’s no one around to envy it, did it really make a sound? For the rapidly growing class...

BTS agency agrees to establish NFT joint venture with domestic blockchain company

Hybe, the agency of K-pop wonder BTS, diversified its business portfolio into such as non-fungible tokens through a joint venture with Dunamu, a blockchain...

South Korean exchanges to seek revenue from new ventures

Following the September 24 deadline for South Korean crypto exchanges to comply with the new regulations, only four were granted full operation. Around 60 exchanges...

Samsung Next, others grow blockchain portfolio despite tightened South Korea regulations

In South Korea, an anonymous crypto investor once wrote to the finance minister that the country’s strict regulations on the virtual asset industry will...

South Korea Plans 20% Crypto-Tax From 2022, Will Exclude NFTs as Taxable

The country’s crypto tax rules that had been previously proposed have been accepted and will go into effect in 2022. As of now, non-fungible...

JYP works with blockchain company to launch K-pop-based NFT platform business

JYP Entertainment, a major K-pop powerhouse in South Korea, joined hands with a domestic blockchain company to launch a non-fungible token platform business...

Non-fungible tokens (NFTs) and copyright law

Ownership and copyright in the underlying asset As one might expect, NFTs are not currently addressed in many countries legislation or case law, and this...

Bank Of Korea recognizes virtual assets with clear intrinsic value

The Bank of Korea, which is negative for virtual assets such as Bitcoin, has begun to take a positive approach to some virtual assets...

Go grandmaster Lee Se-dol’s win over AlphaGo released as NFT

On Tuesday, an NFT of Lee's victory against AlphaGo was put up for auction on the NFT marketplace, OpenSea. Lee secured his first victory against...

LATEST ARTICLES

IN SOUTH KOREA, MIXED MESSAGES ABOUT CRYPTOCURRENCY TAX POLICIES ARE CAUSING...

The government’s waffling on the crypto tax, which is due to take effect in 2022, has generated a tangle of contradictory stories that even...