South Korean authorities hire lawyers to protect NFT and meta-villagers

South Korean authorities hire lawyers to protect NFT and meta-villagers

The Ministry announced a tender for copyright law firms to investigate the possibility of copyright protection in the non-interchangeable Token and Web3 market. The Ministry of Culture explained that the study would be the first step to fulfill the promises made by new President Yoon Suk-yeol during his election campaign.

The ministry says it is in active discussions with the president’s team to develop the NFT and meta-universes. The president has promised to “develop a new concept for the digital asset market through the adoption of NFT ” Yoon Seok-yeol explained that he wants to help develop Blockchain technology and revitalize the token economy to keep up with the global meta-universe ecosystem, which is “becoming the industry of the future”.

Alas, in South Korea, collectible tokens are often traded without the consent of the rights holder.

“We plan to find alternative solutions to the copyright problem arising from the emergence of new technologies such as the metaviverse and NFT. This includes the problem of tokens released without the consent of the copyright holder”

the agency said

South Korea plans to increase prosecution for tax evasion on cryptocurrency income. South Korea’s national tax agency consulted with tax authorities in Bulgaria and the United Kingdom in March.

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Written by Renat
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