South Korea and US to Discuss NFTs and Bitcoin ETFs in Evolving Landscape of Digital Finance

The South Korean Financial Supervisory Service (FSS) and the US Securities and Exchange Commission (SEC) are set to discuss the inclusion of Bitcoin ETFs and non-fungible tokens (NFTs) within the realm of virtual assets. This marks a pivotal moment in the realm of virtual finance, highlighting the evolving landscape of digital finance and its regulatory challenges. The exclusion of NFTs from the scope of virtual assets under the forthcoming Enforcement Decree of the Virtual Asset Act in South Korea reflects a cautious approach driven by perceived low market risks, but escalating prices and speculative fervor surrounding NFTs have spurred calls for their formal recognition as tradable assets. The outcomes of these deliberations are poised to shape the future trajectory of virtual finance.