Crypto Firms in South Korea Set to Finally Gain Legal Status, Tax Incentives
2025-07-09 10:21:19
Main Idea
South Korea is considering allowing crypto businesses to qualify for venture status, which would provide them with government-backed funding and other benefits, marking a significant policy shift under President Lee Jae Myung's pro-crypto administration.
Key Points
1. Crypto businesses in South Korea are currently excluded from qualifying for venture status, which has previously resulted in financial penalties for companies like Upbit's parent Dunamu.
2. If approved, the policy change would enable crypto startups to apply for venture status for the first time, unlocking benefits such as government funding and subsidies.
3. The proposal is part of President Lee Jae Myung's broader pro-crypto agenda, which includes pushing for spot Bitcoin ETFs and a Korean won-based stablecoin.
4. Major South Korean banks are already exploring crypto-related products, indicating growing institutional interest in the sector.
Description
The post Crypto Firms in South Korea Set to Finally Gain Legal Status, Tax Incentives appeared first on Coinpedia Fintech News Crypto fans will love this! South Korea’s government is taking steps to support the crypto industry by officially recognizing crypto businesses as part of its venture ecosystem. A new proposal from the Ministry of SMEs and Startups aims to let crypto firms register as “venture companies” – a status that gives access to tax cuts, government-backed funding, subsidies, and ...
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