TechFlow news, September 11 — According to Cryptonews, the South Korean government announced it will officially lift the ban on venture capital investments in cryptocurrency-related businesses on September 16, ending investment restrictions that have been in place since October 2018. The Ministry of SMEs and Startups stated that the move aims to reflect evolving developments in the global crypto asset industry and promote growth in blockchain and cryptocurrency-related sectors. Kim Jae-jin, Vice Chairman of the Digital Asset Exchange Association (DAXA), said this policy shift could become a "turning point" for South Korea's crypto industry. Previously, crypto exchanges and brokerage firms were classified as "restricted high-risk businesses," alongside bars, nightclubs, and gambling venues, making them ineligible for venture capital funding.
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