The South Korean government has removed virtual asset trading and intermediary business from the industry restricted by risky firms

Virtual asset trading and intermediary business will be removed from the venture enterprise restricted industry. The Ministry of Small and Medium-sized Enterprises and Start-ups of South Korea (referred to as the "Ministry of Small and Medium-sized Start-ups") said on the 9th that at the state conference held in Yongsan Presidential Palace, it reviewed and approved the above-mentioned amendments to the "Special Law on Cultivating Venture Enterprises". The amendment will be officially implemented on the 16th.
The Ministry of Small and Medium-sized Startups explained that the amendment to the implementation order takes into account factors such as the changing global status of the virtual asset industry and the strengthening of the domestic user protection system in South Korea, and aims to lay the foundation for the formal cultivation of the core deep technology industry in the digital asset ecosystem such as blockchain and encryption technology.
The Ministry of Small and Medium-sized Startups also pointed out that globally, the United States approved bitcoin spot-listed index funds (ETFs) in January last year, and implemented a comprehensive stablecoin regulatory law in July of the same year, indicating that the trend of recognizing virtual assets as a formal industry is taking shape.