South Korea’s Financial Services Commission is investigating whether P2E tokens are securities

According to Lawtimes, South Korea’s Financial Services Commission is investigating whether cryptocurrencies issued by P2E (Play to Earn) game operators have securities attributes. Obligations under the Capital Markets Act. At present, Wemix tokens are being reviewed to confirm whether they are securities. A person from the Financial Supervisory Authority said: “Whether Wemix tokens are securities is related to the issue of setting the scope of security tokens. The authorities are currently discussing this part. to make a judgment.” The lawyer said that if it is judged that the virtual assets issued by the game operator have the attributes of securities, they must submit securities declarations to the financial authorities in accordance with the provisions of the Securities Law, and can only be traded on trading platforms with investment brokerage licenses.