South Korea Grants Crypto Firms Venture Status Sept. 16

Crypto News Cryptocurrencies

Venture Status for Crypto Firms Kicks Off in South Korea on September 16

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 12, 2025

Key Takeaways

South Korea will let crypto firms apply for venture status on September 16, which gives them access to tax breaks and state financing programs;
The 2018 ban on venture recognition for digital-asset businesses has been lifted after government review and public consultation in July 2025;
Officials expect the policy shift to boost trading, blockchain, smart contracts, and cybersecurity while ensuring stronger oversight.

Stop overpaying - start transferring money with Ogvio. Join the waitlist & grab early Rewards NOW! 🎁

Venture Status for Crypto Firms Kicks Off in South Korea on September 16

BITDEGREE IN YOUR SOCIAL FEED

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.

5 Best Crypto Portfolio Diversification Strategies (Animated Explanation)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

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.