South Korea Recognizes Crypto Firms as Venture Companies

South Korea has ended a seven-year prohibition on classifying cryptocurrency firms as venture businesses, marking a significant policy shift. From September 16, digital asset companies can seek venture certification, unlocking tax incentives and government funding opportunities.

The decision positions South Korea alongside progressive jurisdictions embracing blockchain innovation. By extending venture status to crypto enterprises, regulators signal growing institutional acceptance of digital assets as drivers of economic growth.

This regulatory evolution reflects Seoul's strategic pivot toward cultivating a transparent digital finance ecosystem. The MOVE could accelerate blockchain development and attract crypto startups seeking favorable operating conditions in Asia's fourth-largest economy.