South Korea's New Start Fund Grants $15 Million Debt Relief to Crypto Traders

2025-12-17 08:50

South Korea's New Start Fund, designed to support small businesses struggling post-pandemic, has provided approximately $15 million in debt relief to 269 individual cryptocurrency traders. An audit revealed that some beneficiaries held significant crypto assets while receiving aid. One case involved a recipient who received $62,000 in debt relief while holding $307,000 in crypto assets. The Financial Services Commission plans to tighten beneficiary screening but acknowledges the current system's limitations in detecting crypto holdings unless voluntarily disclosed.

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