South Korea’s Crypto Industry Could Gain Startup Tax Breaks Under New Proposal
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Crypto businesses in South Korea may soon enjoy the same government benefits as other startups under a new amendment proposed by the Ministry of SMEs and Startups.
If passed, the change would classify virtual asset trading and brokerage firms as “venture companies,” making them eligible for tax incentives and subsidies. Since 2018, these firms have been excluded from such perks, grouped instead with gambling and entertainment businesses.
The shift could provide relief to companies like Dunamu, which lost its venture status in 2018 and was hit with an $18 million tax bill—a decision upheld in court. Now, the industry may finally get regulatory recognition.
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