South Korea Recognizes Crypto Firms as Venture Companies

South Korea has lifted its seven-year ban on cryptocurrency firms qualifying as venture companies. Starting September 16, crypto businesses can apply for venture certification, gaining access to tax breaks and government financing support. This move aligns South Korea with global trends, encouraging innovation and growth in the digital asset sector. The policy change reflects the government’s shift towards fostering a transparent and responsible ecosystem for digital finance, positioning the country as a hub for blockchain and crypto startups.