Starting September 16th, South Korean cryptocurrency companies can begin the process of becoming officially recognized as venture businesses.
This new classification unlocks access to valuable tax incentives and government funding opportunities that were previously unavailable to them.
As detailed in a report from KoreaTechDesk, this policy change follows a decision made by the Cabinet on September 9th. The Ministry of SMEs and Startups approved an amendment to the Enforcement Decree of the Venture Business Act.
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Previously, cryptocurrency exchanges and brokerage services were prohibited from applying for this status. Now, with these restrictions lifted, they can vie for the same support mechanisms available to other burgeoning tech companies.
South Korea initially implemented the ban in October of 2018, citing concerns regarding excessive speculation within the cryptocurrency market. In July 2025, the government signaled its intention to reconsider the ban and actively sought input from both the public and industry professionals.
Government officials anticipate that this new approach will stimulate growth not only within the cryptocurrency trading and brokerage sectors, but also in related fields such as blockchain development, smart contract solutions, and cybersecurity.
By incorporating cryptocurrency firms into the established venture capital framework, the government’s objective is to encourage increased private investment while ensuring effective regulatory oversight.
Minister Han Seong-sook has stated the ministry will prioritize the creation of a transparent and responsible market that attracts venture capital and supports innovative new ventures.
In related news, South Korea’s Financial Services Commission (FSC) recently revealed its plans to introduce a stablecoin regulation bill to the National Assembly in October. Interested in the specifics of this proposed legislation? Read the full story for comprehensive details.