Yuri Molchan

South Korean Ministers Take Companies Trading Virtual Assets Off List of Venture Business Entities

The cabinet ministers of South Korea decided to stop classifying all sales and brokerage firms dealing with crypto and Blockchain as venture business models
South Korean Ministers Take Companies Trading Virtual Assets Off List of Venture Business Entities

On Thursday, the cabinet ministers of South Korea decided to stop classifying all sales and brokerage firms dealing with crypto and Blockchain as venture business models.

Back in August, the same initiative was already applied to crypto exchanges. They were taken out of the legislation covering venturing business too. Today’s decision is the sequel to that move.

Meanwhile, last week the local ministry of science dealing with technologies (MSICT) announced its intentions to support the home DLT industry with the purpose of ensuring the country’s technological boost.

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