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

Thu, 27/09/2018 - 17:55

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

Cover image via U.Today

Read U.TODAY on

Google News

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.

#Cryptocurrency exchange

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.