Starting September 16, crypto businesses in South Korea will be able to apply for recognition as venture companies.
This status will give them access to tax benefits and government-backed funding programs that were previously off-limits.
According to a report by KoreaTechDesk, the update follows a Cabinet decision on September 9, where the Ministry of SMEs and Startups approved a change to the Enforcement Decree of the Venture Business Act.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
Crypto Mining Explained: How to Earn From Mining Bitcoin? (Animated)
Until now, digital-asset trading platforms and brokerages were blocked from applying. With the restrictions lifted, these firms can compete for the same support given to other tech startups.
South Korea first imposed the ban in October 2018 by citing concerns about speculation in cryptocurrencies. In July 2025, the government announced that it considered lifting the ban and sought feedback from the public and industry specialists.
Authorities expect the new policy to encourage growth not just in trading and brokerage services but also in related areas such as blockchain systems, smart-contract tools, and cybersecurity services.
By bringing crypto firms under the venture framework, the government aims to attract more private investment while maintaining oversight.
Minister Han Seong-sook explained that the ministry’s focus will be on building a transparent and accountable market that can draw venture capital and support new industries.
Recently, South Korea’s Financial Services Commission (FSC) announced plans to submit a stablecoin regulation bill to the National Assembly in October. What does the bill cover? Read the full story.
