South Korea has lifted a seven-year ban on virtual asset companies, restoring their 'venture enterprise' status effective September 16, 2025. This follows an amendment to the 'Special Act on the Promotion of Venture Businesses' by the Ministry of SMEs and Startups and the Cabinet, removing blockchain and cryptocurrency activities from the restricted industries list. The policy change is designed to align with global digital asset trends and improve regulatory frameworks, fostering a transparent and responsible ecosystem. This move is expected to rejuvenate the crypto industry in South Korea, offering new opportunities for DeFi and blockchain infrastructure projects. Key industry players such as Hashed, Dunamu & Partners, and Kakao Ventures are set to benefit from the increased venture capital and government support.