Crypto

U.S. Senate Banking chair seeks to pass Clarity Act, hopes for clearer rules

U.S. Senate Banking Committee Chairman Tim Scott (팀 스콧) publicly voiced support for pushing through the Clarity Act, a bill setting a regulatory framework for the U.S. cryptocurrency market. The remarks followed Senator Cynthia Lummis releasing a revised draft. The proposal, developed jointly by the Senate Banking and Agriculture committees, outlines a shared regulatory structure for crypto and digital commodities in the United States.

Telecommunications & Media

SKT 5G exaggerated advertising 16.83 billion won fine cancelled; court says amount miscalculated

SK Telecom partially won a first-instance administrative lawsuit challenging South Korea's antitrust regulator over sanctions for exaggerated 5G speed advertising. The Seoul High Court ruled the ads were false or exaggerated, deceptive and likely to mislead consumers, and found the conduct illegal. But it said the Fair Trade Commission miscalculated the violation period, causing errors in the revenue base used to compute the penalty, and cancelled the 16.83 billion won fine.