South Korea's Ministry of SMEs and Startups has announced the lifting of restrictions on virtual asset trading and brokerage companies, effective September 16. This decision follows the State Council's approval of amendments to the Enforcement Decree of the Special Act on the Promotion of Venture Businesses. The ban, in place since 2018 to curb speculative activities, is being removed to align with the evolving global crypto landscape and to encourage capital inflow and industry growth. The industry association of South Korea's top five exchanges, DAXA, has welcomed the policy change, calling it a potential 'turning point' for the development of the crypto sector. The move is expected to foster new industry growth while maintaining a framework for user protection.