Korean Presidential Candidate to Issue NFTs for Fundraising
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4 January
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The ruling Democratic Party of Korea (DPK) is planning to issue non-fungible tokens (NFTs) for fundraising in a presidential election, the Korea Times has learned.

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According to report, the DPK will issue NFTs featuring Lee Jae-myung, the nominee of the centrist-liberal Democratic Party in the 2022 South Korean presidential election. The party says the NFTs will serve as a "kind of bond" so that their owners can exchange the digital assets with other individuals.

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Last November, South Korea's Financial Services Commission (FSC) announced it will start taxing transactions with non-fungible tokens (NFTs) from 2022. According to FSC Vice Chairman, Doh Kyu-sang, NFT tokens will be taxed according to the current tax rules for virtual assets. Only NFTs issued on a large scale and intended for investment or payment will be subject to taxation.

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