In a significant development for the South Korean digital asset landscape, KODA, a leading digital asset custody firm, has become the first virtual asset service provider (VASP) to receive the coveted venture company certification from the Ministry of SMEs and Startups. This landmark achievement signifies a major shift in how blockchain and cryptocurrency businesses are recognized and supported within the country’s regulatory framework. Previously, VASPs faced significant hurdles when seeking venture company status, primarily due to their registration with the Financial Intelligence Unit (FIU). However, this new policy explicitly includes blockchain-based crypto asset trading and brokerage services as eligible for certification, paving the way for other VASP companies in South Korea.