South Korea Plans to Remove Restrictions on Crypto Venture Capital Businesses

South Korea's Ministry of SMEs and Startups announced on Wednesday plans to remove restrictions preventing crypto-related businesses from qualifying as venture capital firms. The announcement further stated that "the government is currently focused on fostering the digital asset industry, and following the implementation of crypto regulations last year, South Korea's legal protections for users are in place, so restricting the industry is 'inappropriate'." [Foresight News]