South Korea lifts ban on VC funding for crypto companies, effective September 16

According to Odaily Planet Daily, South Korea's Ministry of SMEs and Venture Capital announced that the Cabinet has approved a partial revision of the "Enforcement Decree of the Special Act on Promoting Venture Capital," removing the restrictive designation for virtual asset trading and brokerage firms. Starting September 16th, crypto-related companies can apply for venture capital funding. This ban, established in 2018 to curb excessive speculation, has been in effect for nearly seven years. DAXA, the industry association of South Korea's five major exchanges, welcomed the move, stating that the policy shift could be a "turning point" for the industry's development. (Cryptonews)