South Korea plans to lift crypto venture business restrictions

South Korea Reclassifies Crypto Businesses as ‘Venture Firms’, Saving Millions in Tax Breaks for Crypto Sector

South Korea announced plans to allow crypto businesses to be classified as venture companies, opening up a large list of benefits for the crypto industry.

South Korea may lift restrictions on crypto firms; grant venture status, access to tax breaks - CoinCodeCap

South Korea’s Ministry of Small and Medium Enterprises(SMEs) and Startups has proposed an amendment to its startup law that would allow crypto firms to

South Korea Moves to Include Crypto Firms in National Startup Ecosystem

South Korea’s government is set to reclassify cryptocurrency firms as venture companies, granting them long-denied access to tax breaks, financing, and government support in a significant policy shift aimed at strengthening the nation’s digital economy.

South Korea’s crypto reform plans offer tax cuts and funding access to companies

The move would give digital asset firms access to tax breaks and state funding. Dunamu paid ₩24 billion in taxes after losing venture status in 2018. Policy is part of President Lee’s pro-crypto economic strategy. South Korea is moving to formally recognise crypto businesses as venture companies, a decision that could give the industry access to tax relief, government-backed loans, and startup funding for the first time. The Ministry of SMEs and…

Seoul to Reclassify Crypto Firms as Venture Companies, Unlocking Subsidies and Tax Break

South Korea’s crypto sector is on the cusp of a breakthrough, with the government proposing to recognize crypto firms as venture companies, potentially unlocking millions in subsidies and tax incentives. Crypto companies’ exclusion from the classification has hindered their access to tax breaks and financial support. Will the proposed amendment mark a turning point? South The post Seoul to Reclassify Crypto Firms as Venture Companies, Unlocking …

South Korea's Crucial Clarity: MOEF Mandates Market Value for Validator Rewards Taxation

The landscape of cryptocurrency taxation is constantly evolving, and for businesses operating within the digital asset realm, clarity is paramount. A significant development from the Ministry of Economy and Finance (MOEF) in South Korea is set to reshape how companies approach their tax obligations. This crucial clarification regarding South Korea crypto tax specifically addresses the valuation of virtual assets received as compensation for vali…