BlockBeats news, December 2, CEO of Hashed, South Korea's largest cryptocurrency venture capital institution, Simon Kim, stated that with the postponement of cryptocurrency taxation in South Korea for another two years, the institutionalization process in the country's cryptocurrency and Web3 sectors is expected to accelerate. Kim listed several anticipated policies to be promoted, including allowing businesses to open cryptocurrency accounts, opening up institutional investors to participate in cryptocurrency investments, permitting token issuance in South Korea, and releasing regulatory frameworks for STO/RWA.
Other important policy directions include the formulation of guidelines related to stablecoins, establishing accounting standards for virtual assets, subdividing professional areas such as custody, recognizing cryptocurrency companies as venture capital enterprises (currently viewed as part of the gambling industry), allowing South Korean exchanges to access overseas users, and lifting restrictions on South Korean companies' investments in overseas blockchain firms.