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 … [Read more...] about NFTs will not be regulated in crypto-friendly Korea, the ministry confirms
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Ukrainian ministry considering digital currency pilot for staff salaries
Mikhail Fedorov, Ukraine’s Deputy Prime Minister and the head of the country’s Ministry of Digital Transformation, has revealed a possible early use case for the nation’s planned central bank digital currency (CBDC).In a recent interview published by Ukrainian media outlet TSN, the minister revealed considerations within the ministry to test out the CBDC by using the electronic … [Read more...] about Ukrainian ministry considering digital currency pilot for staff salaries
Iranian trade ministry issues 30 crypto mining licenses
Iran’s Ministry of Industries, Mining and Trade issued operating licenses for 30 crypto mining centers in the country, the country's Financial Tribue reported last Wednesday.Citing data from the ministry’s website, the report says that Iran’s Semnan Province received the most licenses, with six crypto mining farms now authorized to operate in the region. Alborz Province secured … [Read more...] about Iranian trade ministry issues 30 crypto mining licenses
Vietnam’s finance ministry warns about crypto trading risks
Vietnamese financial authorities have warned the public about the risks of cryptocurrency investment as the industry is not regulated in Vietnam, local news agency Thanh Niên reports Wednesday.The Ministry of Finance of Vietnam stated, “Vietnam has not adopted any legislation related to the issuance, trading, and exchange of virtual currencies and virtual assets.”The ministry … [Read more...] about Vietnam’s finance ministry warns about crypto trading risks