Beginning September 16, crypto companies in South Korea will have the ability to apply for recognition as enterprise firms.
This standing will give them entry to tax advantages and government-backed funding applications that have been beforehand off-limits.
In line with a report by KoreaTechDesk, the replace follows a Cupboard determination on September 9, the place the Ministry of SMEs and Startups accredited a change to the Enforcement Decree of the Enterprise Enterprise Act.
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Till now, digital-asset buying and selling platforms and brokerages have been blocked from making use of. With the restrictions lifted, these corporations can compete for a similar assist given to different tech startups.
South Korea first imposed the ban in October 2018 by citing considerations about hypothesis in cryptocurrencies. In July 2025, the federal government introduced that it thought of lifting the ban and sought suggestions from the general public and trade specialists.
Authorities anticipate the brand new coverage to encourage development not simply in buying and selling and brokerage companies but in addition in associated areas resembling blockchain programs, smart-contract instruments, and cybersecurity companies.
By bringing crypto corporations below the enterprise framework, the federal government goals to draw extra non-public funding whereas sustaining oversight.
Minister Han Seong-sook defined that the ministry’s focus might be on constructing a clear and accountable market that may draw enterprise capital and assist new industries.
Just lately, South Korea’s Monetary Providers Fee (FSC) introduced plans to submit a stablecoin regulation invoice to the Nationwide Meeting in October. What does the invoice cowl? Learn the total story.
