⚠️New Korean law requires issuers to register as virtual asset operators #NFT​

South Korea's Virtual Asset User Protection Act will take effect on July 19. This new law requires companies that issue NFTs that are considered virtual assets to report their business activities to the authorities.

1. Starting July 19, Korean law will require companies that issue certain NFTs to register as virtual asset operators.

2. NFTs with characteristics such as large-scale issuance, divisibility, or payment use are considered virtual assets.

3. General NFTs used for content collection are not classified as virtual assets. #3friends