#BinanceTurns8

🇰🇷💼 South Korea Opens Venture Support to Crypto Firms in Policy Shift

South Korea has announced plans to include cryptocurrency businesses in its official venture enterprise classification, marking a significant policy shift. The Ministry of SMEs and Startups revealed amendments that will allow blockchain and digital asset firms to access government funding, tax benefits, and R&D support previously reserved for traditional tech startups.

This decision follows years of regulatory uncertainty and comes as Korea positions itself as a digital innovation hub. Qualified crypto ventures may now receive:

- Up to 50% tax deductions

- Preferential loan rates

- Startup incubation programs

Industry leaders hail the move as validation for blockchain's economic potential, while analysts note it may accelerate institutional crypto adoption. The changes take effect in Q1 2024, with strict compliance requirements to prevent misuse.