Why Korea’s Crypto Policy U-Turn Matters
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South Korea has taken a major step toward legitimizing its cryptocurrency sector by lifting a seven-year restriction that kept digital asset firms from being recognized as venture companies. The Ministry of SMEs and Startups approved revisions to the Venture Business Act during a cabinet meeting on September 9, clearing the way for trading and brokerage platforms to qualify for venture status.
The change, effective September 16, will allow crypto businesses to apply for certification that unlocks tax incentives, government-backed financing, R&D grants, and credit guarantees. It marks the first time since 2018 that virtual asset companies in South Korea…
