South Korea Rules NFTs as Taxable Assets
Key Points:
South Korea is now categorizing some NFTs as virtual assets subject to income taxes, while in an announcement last month, the FSC (South Korea’s Financial Services Commission) stated they would not be classifying NFTs as virtual assets and would therefore not be regulated. Read more
South Korea originally planned to start crypto taxation early 2022, but it may now be delayed, largely due to the efforts of crypto-friendly lawmakers advocating for a one-year extension. Read more
