South Korea Poised to Grant Legal Status, Tax Incentives to Crypto Firms
Main Idea
South Korea is considering granting legal status and tax incentives to crypto firms by recognizing them as 'venture companies,' aligning with President Lee Jae Myung's pro-crypto agenda.
Key Points
1. The proposal would allow crypto firms to apply for venture status, unlocking financial benefits and loan guarantees.
2. This move aims to alleviate financial burdens on crypto businesses, such as Dunamu, which faced a ₩24 billion tax bill.
3. The government's broader crypto strategy includes exploring support for spot Bitcoin ETFs and introducing a Korean trading framework.
4. Public feedback on the proposal is open until August 18, 2025, marking a critical period for South Korea's crypto regulatory future.
Description
South Korea is on the verge of a pivotal policy shift that could significantly bolster its burgeoning cryptocurrency industry. A new government proposal aims to grant legal status and substantial tax incentives to crypto firms by recognizing them as “venture companies.” This move would dismantle existing barriers that have historically prevented digital asset businesses from … Continue reading "South Korea Poised to Grant Legal Status, Tax Incentives to Crypto Firms" The post South Korea Poised ...
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