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South Korean Gaming Watchdog Won’t Budge on Tough Anti-NFT Stance
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South Korea’s gaming regulator has reiterated its stance that games that feature tradeable non-fungible tokens (NFTs) cannot be distributed in the nation.
As previously reported, in 2019, the Game Rating and Administration Committee (GRAC) refused to issue a rating to Infinity Star, a game developed by the domestic firm NodeBrick – citing NFTs as its main reasoning.
Critics at the time claimed that the GRAC had essentially “sentenced” the domestic blockchain gaming industry “to death.”
Since then, NFTs and blockchain gaming have taken off around the world, with titles like Axie Infinity drawing in millions of users all over the globe. Not so in South Korea, though, where the hit title remains effectively banned.
Gaming firms must obtain
Read more on cryptonews.comAbout this in other media
South Koreans Can Trade Crypto Tax-Free Until at Least 2023 as Delay 'Virtualy Confirmed' cryptonews.com /2 years ago
South Korean lawmakers inch closer to deal to delay crypto tax by one year cointelegraph.com /2 years ago
South Korean legislators agree to delay taxation of cryptocurrency capital gains ambcrypto.com /2 years ago
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