South Korea lifts the financing ban on encryption companies VC, effective September 16.

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According to Mars Finance, as reported by Cryptonews, the South Korean Ministry of Small and Medium Enterprises has announced that the State Council has approved partial amendments to the "Enforcement Decree on the Promotion of Risk Enterprises Special Act," removing restrictive designations on virtual asset trading and brokerage companies. Starting from September 16, encryption-related companies can apply for venture capital funds. This ban was established in 2018 to curb overheated speculation and has been in effect for nearly seven years. The ministry stated that this move reflects changes in the global status of the encryption industry and promotes capital inflow and new industry growth within the existing user protection framework. The DAXA, an industry association of South Korea's five major exchanges, welcomed this, stating that the policy shift could become a "turning point" for industry development.

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