TechFlow News — On December 1, Simon Kim, CEO of Hashed, South Korea's largest crypto venture capital firm, stated that with the two-year extension of the taxation deferral on cryptocurrencies in South Korea, the institutionalization of the country’s cryptocurrency and Web3 sectors is expected to accelerate. Kim listed several anticipated policy developments, including allowing corporations to open cryptocurrency accounts, enabling institutional investors to participate in crypto investments, permitting token issuance within South Korea, and releasing a regulatory framework for STOs (Security Token Offerings) and RWA (Real World Asset) tokenization.
Other key policy directions include establishing guidelines for stablecoins, developing accounting standards for virtual assets, specializing in细分 areas such as custody, reclassifying crypto firms as venture-backed enterprises (currently classified under gambling), allowing Korean exchanges to serve international users, and lifting restrictions on Korean companies investing in overseas blockchain firms.
