Simon Kim, CEO of Hashed, South Korea's largest crypto venture capital firm, pointed out that delaying cryptocurrency taxation for another two years will promote the implementation of several new policies, indicating that the South Korean market is about to undergo significant changes? (Background: South Korea has postponed imposing cryptocurrency capital gains tax until 2027; will this affect Taiwan's taxation process?) (Additional Background: South Korea plans to implement a 20% cryptocurrency capital gains tax in 2025; will Taiwan follow suit?) Yesterday (1st), Simon Kim published an article stating that with the extension of cryptocurrency taxation in South Korea for another two years, the institutionalization process of the country's cryptocurrency and Web3 sector is expected to accelerate. Kim listed several anticipated policies, including allowing businesses to open cryptocurrency accounts, allowing institutional investors to participate in cryptocurrency investments, permitting token issuance in South Korea, and publishing STO/RWA regulatory frameworks. Other important policy directions include establishing stablecoin-related guidelines, creating accounting standards for virtual assets, subdividing custody into specialized areas, recognizing cryptocurrency companies as venture capital firms (currently considered as gambling businesses), allowing Korean exchanges to access foreign users, and lifting restrictions on Korean companies investing in overseas blockchain firms. With crypto taxation in Korea delayed for two more years, I expect the long-delayed crypto/web3 institutionalization in the country to pick up steam soon. Here's my initial list; – Allowing corporate accounts to be opened for crypto– Allow Korean institutional investors to… — Simon Kim (@simonkim_nft) December 1, 2024