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South Korea Lifts Ban on VC Funding for Crypto Companies
South Korea Lifts Ban on VC Funding for Crypto Companies
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BTCCSquare news:
South Korean cryptoasset-related companies can now seek venture capital funding after the government abolished a seven-year-old restriction. The Ministry of SMEs and Startups confirmed the ban will end on September 16, following approval from the State Council.
The amendment removes crypto trading and brokerage firms from the 'restricted venture business' category, a classification imposed in 2018 to curb market speculation. The decision reflects growing recognition of the industry's global significance and comes alongside enhanced consumer protections for exchange users.
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