The proposed amendment reflects a significant policy shift towards integrating crypto firms into the venture ecosystem, supporting their growth with tax benefits and government backing.
South Korea's Ministry of SMEs and Startups announced a proposal to lift restrictions on crypto firms qualifying as venture companies, enabling access to tax breaks and financial support. This move, aimed at nurturing the digital asset industry, aligns with President Lee Jae-myung's pro-crypto policies. Public comments on the proposal will be accepted until August 18, with a final enforcement date pending.
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