FSC to form commission for deciding whether NFTs are securities
임준혁2022년 1월26일 16:02Source: The Hankyoreh South Koreas Financial Services Commission (FSC) has anounced that next month it will begin the process for determining whether or not NFTs, security tokens, and fractional shares can be considered securities under FSC regulation. Lee Yoon-su, head of the FSCs policy division for financial markets, anounced on Jan. 25 that the FSC will formulate a commission for determining whether or not NFTs, security tokens, and fractional shares constitute securities that fall under FSC jurisdiction. Lee made the anouncement during a debate on key issues and prospects for financial markets in 2022. The advent of technological inovations has given rise to numerous forms of digital investment, sparking the debate as to whether or not something can be considered a security, Lee said. Lee Yoon-su, head of the FSCs policy division for financial markets. Source: Korea Capital Market Institute YouTube screenshot Lee added that firms who issue and distribute such digital investment products have consistently claimed that their products are not securities. Thus far, theyve been allowed to issue investment products without any form of license or oversight. Lee said that an increasing number of investment products have been straddling the border between security and non-security, which has compelled regulators to formulate standards and definitions