Trade Haven Hub - Investing and Stock News
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
No Result
View All Result
Trade Haven Hub - Investing and Stock News
No Result
View All Result
Home Crypto News

South Korea to Classify Crypto Firms as Venture Companies, Unlocking Government Perks

by
July 9, 2025
in Crypto News
0
South Korea to Classify Crypto Firms as Venture Companies, Unlocking Government Perks
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

South Korea is moving to reclassify crypto trading and brokerage firms as “venture companies,” a status that would grant them access to government subsidies, tax incentives, and financial support.

Key Takeaways:

South Korea plans to reclassify crypto firms as venture companies, granting them access to state benefits. The move would reverse a 2018 policy that excluded blockchain firms from government-backed support. The proposal reflects a broader shift under President Lee to integrate crypto into the national innovation strategy.

The Ministry of SMEs and Startups issued a notice on Monday proposing an amendment to its startup law to include Virtual Asset Service Providers (VASPs) under the venture company umbrella.

The current law, in place since 2018, explicitly excluded blockchain-based crypto firms from receiving venture certification—placing them in the same category as gambling venues and nightclubs.

Proposed Law Aims to Legitimize South Korea’s Digital Asset Sector

The proposed revision aims to reverse that, potentially legitimizing the country’s growing digital asset sector.

Companies with venture status in South Korea benefit from a range of perks, including tax reductions and easier access to state-backed financing.

These benefits were previously stripped from crypto firms, notably in the case of Dunamu, the operator of Upbit, which faced an $18 million corporate tax bill after its venture certification was revoked.

Dunamu’s attempt to contest the ruling in court failed.

In the new proposal, the ministry said that recognizing “innovative, business-viable” crypto service providers as venture firms would broaden the country’s venture ecosystem and help accelerate virtual asset industry growth.

The shift comes as President Lee Jae Myung, who took office last month, ramps up support for the digital finance sector.

Lee has been vocal about lifting restrictions on crypto ETFs and institutional trading.

He has also backed legislative efforts to introduce Korean won-based stablecoins, a move that has already triggered a wave of trademark filings by major financial institutions.

The proposed reclassification signals a broader change in how South Korea views its crypto industry, no longer as a speculative outlier but as a sector worth integrating into its formal innovation economy.

If adopted, the amendment could open the door to increased investment and regulatory clarity for domestic crypto firms.

Korea’s FSC Eyes Spot Crypto ETFs

As reported, South Korea’s Financial Services Commission (FSC) has presented a roadmap to the Presidential Committee on Policy Planning proposing the approval of spot crypto ETFs.

The move came after President Lee Jae-myung’s campaign promise to modernize digital asset rules and boost opportunities for younger investors.

South Korea’s FSC has submitted a roadmap outlining a potential framework to approve spot cryptocurrency ETFs.#SouthKorea #ETFshttps://t.co/A0gQDo2y0V

— Cryptonews.com (@cryptonews) June 20, 2025

The plan outlines implementation measures for spot crypto ETFs and regulatory frameworks for won-based stablecoins in the second half of 2025.

Historically, the FSC blocked crypto ETFs over volatility and financial risk concerns, maintaining that cryptocurrencies were unsuitable as underlying assets.

The post South Korea to Classify Crypto Firms as Venture Companies, Unlocking Government Perks appeared first on Cryptonews.

Previous Post

Nasdaq-listed GameSquare Secures $8M to Initiate $100M ETH Treasury

Next Post

Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security

Next Post
Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security

Coinbase Drops $5 Million Bug Bounty on Cantina for Base and Smart Contract Security

  • Trending
  • Comments
  • Latest
Buy Bitcoin Under $100K Before The Next Bull Run

Buy Bitcoin Under $100K Before The Next Bull Run

April 22, 2025
ASIC Targets ASX: $164M Blockchain Disaster Sparks Expert Panel Probe

ASIC Targets ASX: $164M Blockchain Disaster Sparks Expert Panel Probe

June 26, 2025
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

March 20, 2025
Solana Price Prediction: Institutional Demand Hits New High – $1,000 SOL Incoming

Solana Price Prediction: Institutional Demand Hits New High – $1,000 SOL Incoming

June 25, 2025
Polygon (POL) Technicals Flash Bullish as Heimdall v2 Upgrade Nears – $0.225 Target in Play

Polygon (POL) Technicals Flash Bullish as Heimdall v2 Upgrade Nears – $0.225 Target in Play

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Air Direct Capture – Reducing CO2 from the Atmosphere

Air Direct Capture – Reducing CO2 from the Atmosphere

0
Polygon (POL) Technicals Flash Bullish as Heimdall v2 Upgrade Nears – $0.225 Target in Play

Polygon (POL) Technicals Flash Bullish as Heimdall v2 Upgrade Nears – $0.225 Target in Play

July 9, 2025
Copper Soars to All-Time High as Trump Unveils 50 percent Tariff on Imports

Copper Soars to All-Time High as Trump Unveils 50 percent Tariff on Imports

July 9, 2025
Crypto Market Recap: Trump Media Files “Crypto Blue Chip ETF”

Crypto Market Recap: Trump Media Files “Crypto Blue Chip ETF”

July 9, 2025
Homerun Resources Inc. Announces Receipt of a Competitive Budgetary Offer for Latin America’s First Dedicated Solar Glass Manufacturing Facility

Homerun Resources Inc. Announces Receipt of a Competitive Budgetary Offer for Latin America’s First Dedicated Solar Glass Manufacturing Facility

July 9, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    Polygon (POL) Technicals Flash Bullish as Heimdall v2 Upgrade Nears – $0.225 Target in Play

    Polygon (POL) Technicals Flash Bullish as Heimdall v2 Upgrade Nears – $0.225 Target in Play

    July 9, 2025
    Copper Soars to All-Time High as Trump Unveils 50 percent Tariff on Imports

    Copper Soars to All-Time High as Trump Unveils 50 percent Tariff on Imports

    July 9, 2025
    Crypto Market Recap: Trump Media Files “Crypto Blue Chip ETF”

    Crypto Market Recap: Trump Media Files “Crypto Blue Chip ETF”

    July 9, 2025
    Homerun Resources Inc. Announces Receipt of a Competitive Budgetary Offer for Latin America’s First Dedicated Solar Glass Manufacturing Facility

    Homerun Resources Inc. Announces Receipt of a Competitive Budgetary Offer for Latin America’s First Dedicated Solar Glass Manufacturing Facility

    July 9, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 tradehavenhub.com | All Rights Reserved

    No Result
    View All Result
    • Investment Tips
    • Trade Tips
    • Crypto News
    • Economy News
    • Stock Market

    Copyright © 2025 tradehavenhub.com | All Rights Reserved