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South Korea plans to lift crypto venture business restrictions

cryptoweekly by cryptoweekly
July 9, 2025
in bitcoin, News
0

South Korea may lift restrictions on crypto firms, allowing them venture status and access to tax breaks, funding and regulatory benefits.

South Korea’s Ministry of SMEs and Startups announced Wednesday that it plans to lift restrictions preventing crypto-related businesses from qualifying as venture companies.

Currently, firms operating in the “virtual asset” sector are excluded from the government’s venture classification, which limits their access to various tax breaks and financial support. The ministry said the proposed amendment reflects a “shift in perception” of the digital asset industry and the establishment of “legal and institutional safeguards” aimed at protecting users.

The announcement further states that “the government is currently focusing on nurturing the digital asset industry,” and following last year’s implementation of crypto regulations, legal protections for users are already in place. For this reason, restricting the industry is “inappropriate,” it states.

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Recent Posts
  • Crypto groups back lawsuit against DOJ crackdown on open-source code
  • Bitcoin gets 'highly favorable' cues as DXY sets 21-year weakness record
  • South Korea plans to lift crypto venture business restrictions
  • Circle and OKX launch zero-fee USDC conversions to US dollar
  • OpenSea expands to mobile with Rally deal, eyes ‘onchain everything app’
  • New Zealand bans crypto ATMs in crackdown on criminal cash conversions
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