Simon Kim, the CEO of Hashed, a leading cryptocurrency venture capital firm in South Korea, pointed out in a recent article that, given the two-year extension of South Korea's cryptocurrency taxation policy, the institutionalization of the country's cryptocurrency and Web3 sectors is expected to accelerate.
Kim elaborated on several anticipated policy developments, covering the allowance for businesses to establish cryptocurrency accounts, opening cryptocurrency investment channels for institutional investors, approving token issuance within South Korea, and launching a regulatory framework for STO/RWA.
Additionally, he mentioned several other key policy directions, including but not limited to the formulation of relevant guidelines for stablecoins, establishing accounting standards for virtual assets, segmenting professional fields such as custody, reclassifying cryptocurrency firms as venture capital entities, allowing South Korean cryptocurrency exchanges to accept international users, and easing restrictions on South Korean companies' investments in overseas blockchain firms.