Since December 2023, the FSC has released multiple guidelines to interpret and apply these new laws. Notably, the regulator recently released new guidelines clarifying when Non-Fungible Tokens (NFTs) should be classified as digital assets. The guidelines state that specific NFTs exhibiting characteristics similar to cryptocurrencies will fall under regulatory purview, while regular NFTs and Central Bank Digital Currencies (CBDCs) are generally excluded.
The alliance noted that they have already incorporated monitoring criteria into their initial process, which should reduce the likelihood of widespread delistings. However, to prevent potential market manipulation, they noted that they would make only disqualification criteria will be made public.
