South Korea plans to include cryptocurrency companies in the category of startups to enjoy tax reductions and other policy benefits

ChainCatcher news, according to TheBlock, the South Korean Ministry of SMEs and Startups announced today that it plans to amend the "Special Act on the Promotion of Risk Enterprises," intending to allow virtual asset trading and brokerage service providers to register as "risk enterprises." This move will enable crypto companies to receive tax reductions, financing support, and other policy benefits.

The current regulations have excluded crypto companies from the risk enterprise certification scope since 2018, categorizing them alongside restricted industries such as bars and nightclubs.