South Korean regulator proposes strict new rules for token issuers



South Korea’s Financial Services Commission (FSC) has issued a report outlining its new definition of cryptocurrencies, along with proposed procedures for token issuers and punishments for non-compliance.

The mooted rules could impose onerous regulations on individuals or platforms that mint non-art nonfungible tokens (NFT) intended for trading, as well as decentralized finance projects among others.

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