South Korean Ministry Revises Decree to Include Crypto in Venture Framework

The South Korean Ministry of SMEs and Startups has passed a partial revision to the Enforcement Decree of the Venture Business Act, removing restrictions on virtual asset businesses.

Effective September 16, the amendment enables crypto trading and brokerage firms to obtain venture certification, thereby qualifying for tax incentives, credit guarantees, and financial aid.

The original restriction was implemented in October 2018 due to concerns over the speculative nature of digital assets.