South Korea Finally Likes Crypto?! 😲

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So, South Korea is letting crypto companies be… venture companies? I guess that’s a thing. For almost a decade, they were like, “Absolutely not! Too much fun!” as if responsible adults can’t enjoy a little digital speculation. 🙄 But now, apparently, it’s okay. It seems the only thing more volatile than crypto is South Korean policy.

  • Basically, the Ministry of SMEs and Startups (which sounds like a really cute department) changed a law.
  • Starting September 16th, crypto companies can apply to be official “ventures”. 🎉
  • This ends a ban that’s been around since 2018. Which, in crypto years, is like… the Stone Age.

For years, these crypto companies were stuck watching everyone else get tax breaks and government goodies. It’s like being at a party and realizing you’re not on the guest list. Rude! Turns out, thinking crypto was too “speculative” was holding back innovation. Who knew? 🤷‍♀️

They finally realized digital assets might, maybe, possibly, *gasp* drive innovation and attract money. Honestly, it only took a pro-crypto president being elected to make it happen. It’s almost like politicians listen to voters…nah, I’m kidding.

Starting Sep. 16, they can do all the venture stuff. It’s like a coming-out party for blockchain dreams.

Why the Change of Heart?

Apparently, South Korea has decided it’s better to embrace the chaos. Who are we to judge? They’re hoping for blockchain infrastructure booms, smart contract parties, and cybersecurity… well, definitely need that. Because let’s be real, crypto security is always a good idea. 🔐

This whole thing gained momentum after President Lee Jae-myung, who seems to enjoy digital finance, took office. The revision was hinted at just a month after he was elected. Coincidence? I think not! It’s called political timing, people.

The government expects growing sectors and tax cuts, financial support. It’s like they’re realizing crypto isn’t just for people wearing hoodies anymore. Though some of them probably still are.

With a $1.3 billion market projected by 2026 (which seems… optimistic?), South Korea wants to be the cool crypto kid on the block.

According to the Minister of SMEs and Startups, Han Seong-sook, it’s about “aligning Korea with global trends”. What a novel idea! Aligning with trends! Groundbreaking.

She also wants a “transparent and responsible ecosystem.” Which, let’s be honest, sounds exhausting. But good for them!

Don’t Worry, They Still Want to Protect You

But before you start mortgaging your house to buy Dogecoin, South Korea also wants to protect investors. Because, you know, responsible adults and all that. They’re cracking down on high-risk loans and capping interest rates. Smart. They’re trying to make sure people aren’t losing their life savings on a meme. 😅

They’ve even told crypto exchanges to pause lending services until they figure out the rules. Bureaucracy at its finest! It’s like saying, “Here’s a fun new toy, but you can’t play with it until we write a 300-page instruction manual.”

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2025-09-11 09:53