PANews reported on September 11th that, according to Cointelegraph, South Korea is lifting restrictions that previously prevented cryptocurrency companies from being designated as venture companies, providing them with new opportunities to enjoy tax incentives and financing support. At a cabinet meeting on Tuesday, the Ministry of Small and Medium Enterprises and Entrepreneurship announced that it had partially revised the Enforcement Decree of the Venture Company Act to lift restrictions on virtual asset trading and brokerage businesses. The changes, scheduled to take effect on September 16th, will allow crypto companies to apply for venture company certification, which would provide them with options such as tax breaks and financial support.PANews reported on September 11th that, according to Cointelegraph, South Korea is lifting restrictions that previously prevented cryptocurrency companies from being designated as venture companies, providing them with new opportunities to enjoy tax incentives and financing support. At a cabinet meeting on Tuesday, the Ministry of Small and Medium Enterprises and Entrepreneurship announced that it had partially revised the Enforcement Decree of the Venture Company Act to lift restrictions on virtual asset trading and brokerage businesses. The changes, scheduled to take effect on September 16th, will allow crypto companies to apply for venture company certification, which would provide them with options such as tax breaks and financial support.
South Korean crypto firms to receive venture capital firm status next week
PANews reported on September 11th that, according to Cointelegraph, South Korea is lifting restrictions that previously prevented cryptocurrency companies from being designated as venture companies, providing them with new opportunities to enjoy tax incentives and financing support. At a cabinet meeting on Tuesday, the Ministry of Small and Medium Enterprises and Entrepreneurship announced that it had partially revised the Enforcement Decree of the Venture Company Act to lift restrictions on virtual asset trading and brokerage businesses. The changes, scheduled to take effect on September 16th, will allow crypto companies to apply for venture company certification, which would provide them with options such as tax breaks and financial support.
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