Some NFTs are only digital collectibles in name and marketing, when in reality they are being used for investment or payment, the FATF warned regulators. Other NFTs that are not virtual assets, but are digital representations of assets regulated by the FATF, the task force said. Source link … [Read more...] about S. Korean Regulator Says NFTs Are Not Virtual Assets: Report
Korean
BTS Agency Hybe to Set Up Joint Venture on NFTs with Korean Crypto Exchange Upbit
The two companies will exchange shares through a third-party allotment capital increase, according to the announcement. Hybe will acquire a 2.5% stake in Dunamu worth KRW 500 billion ($423 million), while Dunamu will buy KRW 700 billion of newly issued Hybe shares, which represent a 5.6% stake in the music agency. Source link … [Read more...] about BTS Agency Hybe to Set Up Joint Venture on NFTs with Korean Crypto Exchange Upbit
Korean crypto ‘Jedi Master’ plans to launch second VC blockchain fund
One of South Korea’s leading blockchain evangelists is embarking on another huge blockchain fundraise following the success of his first.Simon Seojoon Kim is planning to raise $173 million for a second blockchain fund following the success of the initial one which netted $120 million from investors in December 2020. Specifics regarding the new fund and its potential investors … [Read more...] about Korean crypto ‘Jedi Master’ plans to launch second VC blockchain fund
Leading South Korean telecom firm adopts blockchain for carbon ambitions
A major South Korean telecommunication company, KT Corp, has outlined plans to create a fully electronic documentation service, utilizing blockchain technology to contribute to environmentally conscious ambitions.The telecommunications firm currently provides around 90% of the nation's fixed-line mobile networks, as well as a further 45% of broadband high-speed internet … [Read more...] about Leading South Korean telecom firm adopts blockchain for carbon ambitions
Korean firm will become first BSN portal operator outside of China
Red Date Technology, one of the four founding members of the Chinese Government-backed Blockchain Service Network (BSN), has announced Korean firm MetaverseSociety as the first BSN portal operator located outside of mainland China.Twitter account “BSNbase” broke the news on Sept. 1, announcing that MetaverseSociety expects to launch its BSN portal during November of this year. … [Read more...] about Korean firm will become first BSN portal operator outside of China