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Seoul is easing regulation of the crypt. The South Korean authorities, which previously held back the development of the crypto industry, are radically changing course. Digital asset companies are now officially recognized as an important part of the innovation sector. We are talking about full-fledged inclusion in the state system of venture business support.

The initiator of the changes was the Ministry of Small and Medium-Sized Businesses and Startups (MSS). Amendments to the "Special Law on Venture Business Support" will come into force on September 16. This will provide access to real development opportunities.: reduced taxes, loan guarantees, as well as the right to receive grants for research and development.

The reasons for the authorities' decision are clear. The crypto sector in the country represents a significant economic force with a multibillion-dollar turnover and millions of users. The state finally recognized this and decided not to oppose, but to lead this process by legitimizing and controlling the fast-growing market.

However, one should not think that Seoul has completely relaxed its control. This step is part of a broader strategy to regulate the digital space. Along with the expansion of opportunities, the Federal Financial Commission (FSC) has recently strictly suppressed risky transactions such as cryptocurrencies, obliging market participants to comply with the rules.

South Korea is showing the world an exemplary approach to regulating digital assets. Instead of total bans or unconditional freedom, the country has chosen the path of practical institutionalization. She recognizes the economic importance of the crypto industry, but clearly defines its boundaries.