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Market Updates

South Korea’s Mirae Asset Invests $153M in Bitcoin Strategy — A Big Bet on Crypto’s Future

Executive Summary From September 16, 2025, South Korea will permit crypto-related companies — such as virtual asset trading and brokerage companies — to file for official venture company status. It grants crypto companies tax breaks, R&D funding, credit guarantees, and government financing programs earlier available to other startups. It is a move by the government to treat blockchain and cryptocurrency businesses as they are of genuine drivers of innovation and economic growth. 1. What Changed The Ministry of SMEs and Startups authorized an amendment to the Venture Business Act Enforcement Decree that excludes "virtual asset trading and brokerage" from the list of ventures not qualified for venture-company certification. The amendment goes into effect on September 16, 2025, reversing a policy that had excluded crypto companies from the nation's startup-support system. 2. Key Benefits for Certified Crypto Ventures • Tax Relief: Lower rates of corporate taxation and tax relief provisions for startups. • R&D Subsidies: Ability to get government research and development subsidies, facilitating product development, security audits, and protocol research. • Financing Facilitation: Access to government-backed guarantees for credit as well as easier access to institutional venture capital markets that prefer certified ventures. These incentives can reduce operating expenses, increase financial runway, and enhance competitiveness for exchanges, wallet providers, infrastructure projects, and blockchain security companies. 3. Policy Reversal in Context In October 2018, South Korea put crypto trading and services related to them on a restricted list to limit speculation and fraud. That excluded many crypto companies from being eligible for venture status or government-supported incentives. The 2025 amendment turns policy around after decades of regulatory development, better consumer protection, and more transparent anti–money laundering guidelines. 4. Eligible Firms and Sectors The policy opens doors for: • Virtual Asset Service Providers (VASPs): Regulated exchanges, brokerages, and custodians. • Infrastructure Startups: Custody, wallet, oracle, and layer-2 scaling initiatives. • Security and Audit Firms: Companies providing smart-contract auditing and cybersecurity services. • Tokenization & DeFi Startups: Regulated stablecoin issuers and real-world asset tokenization initiatives. Venture status will still depend on satisfying normal technical, governance, and financial requirements—no guarantees of benefits. 5. Market and Funding Implications • VC Interest: With barriers to regulation diminished, anticipate more domestic and regional venture capital investment. • Enhanced Unit Economics: Tax relief and R&D grants lower cash burn, supporting higher startup survival rates. • Domestic Competitiveness: Incentives may deter talent and capital flight while drawing foreign projects looking for a regulated Asian base. 6. Regulatory Caveats • Not Deregulation: Venture certification offers economic support but does not waive firms from existing licensing, AML, and KYC regulations. • More Vigilant Monitoring: Companies that are receiving government assistance should anticipate increased audits and reporting obligations. 7. Firm Preparation Checklist • Audit of Corporate Structure: Ensure there is adherence to venture requirements for governance, capitalization, and founder eligibility. • R&D Documentation: Complete detailed technical roadmaps and research plans ready for grant application. • Compliance Readiness: Complete AML/KYC protocols and financial-service licenses mandated. • Investor Materials: Revise pitch decks and projections to demonstrate how tax relief and grants enhance financials. 8. Risks and Considerations • Sector Concentration: Incentives may lead to concentrated markets in venues such as exchanges and wallets. • Policy Shifts: Subsequent economic or political shifts may flip incentives, so companies cannot rely on government patronage. • Market Signaling: Investor sentiment might pick up in the short run, but long-run success relies on adoption and regulatory consistency. 9. Near-Term Outlook • Immediate: Starting from Sept. 16, qualified companies can submit for venture certification and related grants. • Next 12 Months: Anticipate an increase in VC deals, fresh R&D initiatives, and restructuring by existing companies to be eligible for venture status. Conclusion South Korea's designation of cryptocurrency companies as venture eligible marks a milestone for the country's blockchain industry. Starting September 16, 2025, crypto businesses are entitled to tax incentives, R&D investments, and funding assistance that can fast-track growth and innovation. With regulatory requirements still in place, the move places South Korea more competitively as a blockchains and crypto innovation hub in the Asian region.
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In a major sign of Asia’s growing embrace of digital assets, Mirae Asset Financial Group, South Korea’s largest financial services company with $614 billion in assets under management (AUM), has disclosed $153 million allocated into Bitcoin-linked strategy shares.

This move underscores a shifting trend in Asia’s institutional landscape — one where traditional financial giants are beginning to integrate Bitcoin into their investment strategies. For Mirae, the allocation represents not just a financial bet, but a strategic step toward diversifying its portfolios and aligning with global trends in digital assets.

Asia’s Bitcoin Accumulation

The disclosure highlights Asia’s increasing appetite for Bitcoin, at a time when Western institutions such as BlackRock and Fidelity have already made significant strides into the space with spot Bitcoin ETFs. For South Korea — a country known for its tech-savvy population and vibrant retail crypto trading culture — Mirae’s move brings institutional credibility and scale to the digital asset market.

Analysts suggest that this development could pave the way for other large Asian asset managers and pension funds to follow suit, accelerating Bitcoin’s mainstream acceptance across the region. The $153M exposure, though modest compared to Mirae’s total AUM, serves as an important signal of intent: Bitcoin is no longer seen as a speculative outlier, but as a serious macro asset class.

Global Context

The timing is also notable. Bitcoin’s supply dynamics remain constrained by halving cycles and growing institutional inflows, and demand from Asia could amplify upward price pressures. Mirae’s disclosure adds to the narrative that global capital allocation into Bitcoin is diversifying geographically, moving beyond the U.S. and Europe into Asia’s financial hubs.

The Bigger Picture

With South Korea’s strict crypto regulatory framework now evolving toward greater clarity and investor protection, Mirae’s participation could also influence regulatory attitudes. Institutional adoption often signals stability and accountability, factors regulators weigh heavily when shaping digital asset policy.

In the bigger picture, Mirae’s disclosure is not just about one firm’s allocation — it’s a marker of Asia’s rising influence in Bitcoin’s institutional adoption story. If more financial heavyweights across the region follow Mirae’s lead, Bitcoin’s role in global finance could accelerate faster than expected.

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