South Korea Ends 5-Year Crypto Block with Venture Status Upgrade
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In a move that signals a formal embrace of the digital asset sector, South Korea is lifting a restriction that has stifled crypto businesses since 2018.
A revision to the Venture Business Act, effective September 16, will now classify crypto firms as venture companies, granting them the same tax breaks and financial support as other tech innovators.
This decision underscores a dramatic shift in the government’s stance from one of skepticism over speculation to one of support for innovation.
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