【South Korea's Cryptocurrency Sector: Prospects for Institutional Progress Under Taxation Delay】

According to reliable sources, on December 2, Simon Kim, CEO of Hashed, South Korea's largest crypto venture capital firm, pointed out that with the delay 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 companies to open cryptocurrency accounts, opening participation in cryptocurrency investments to institutional investors, allowing the issuance of tokens in South Korea, and publishing regulatory frameworks for STO/RWA.

Other important policy directions include developing stablecoin-related guidelines, establishing accounting standards for virtual assets, segmenting custodial and other specialized fields, recognizing cryptocurrency companies as venture capital firms, allowing South Korean exchanges to connect with foreign users, and lifting restrictions on South Korean companies' investments in overseas blockchain companies.