Beginning September 16, crypto companies in South Korea will be capable of apply for recognition as enterprise corporations.
This standing will give them entry to tax advantages and government-backed funding applications that have been beforehand off-limits.
In keeping with a report by KoreaTechDesk, the replace follows a Cupboard determination on September 9, the place the Ministry of SMEs and Startups permitted 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 companies can compete for a similar help given to different tech startups.
South Korea first imposed the ban in October 2018 by citing issues about hypothesis in cryptocurrencies. In July 2025, the federal government introduced that it thought-about lifting the ban and sought suggestions from the general public and trade specialists.
Authorities anticipate the brand new coverage to encourage progress not simply in buying and selling and brokerage providers but additionally in associated areas equivalent to blockchain programs, smart-contract instruments, and cybersecurity providers.
By bringing crypto companies beneath the enterprise framework, the federal government goals to draw extra personal 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 help 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.
