Dialogue between South Korea and the United States took place in May this year, marking a pivotal moment for the future of cryptocurrencies and non-fungible tokens (NFTs). The conference will feature the Chairman of the Korean Financial Services Commission and Gary Gensler, Chairman of the US Securities and Exchange Commission, and will focus on important aspects of the world of digital assets.
NFTs attracting attention
The discussion comes at a time when South Korea, which does not recognize NFTs as virtual assets, is reevaluating its position in response to growing speculative interest in tandem with the value of major cryptocurrencies. .
The consultation aims to consider the classification of NFTs as crypto assets, which could subject issuers and sellers to regulatory standards that mirror those imposed on crypto service providers. be.
ETF discussion
Another hot topic on the agenda is the possible approval of a spot Bitcoin ETF in South Korea. The current regulatory framework restricts local companies from launching or brokering such products. However, the political arena is abuzz with promises from both sides to facilitate the introduction of local spot Bitcoin ETFs.
As South Korea prepares to implement the first phase of its Cryptocurrency Investor Protection Act in July, these discussions could herald a new era of regulation and innovation. The results have the potential to clearly define the trajectory of digital assets while balancing the scale of growth and governance.
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