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Crypto

Bernstein says U.S. CLARITY bill revote unlikely, focus shifts to follow-up rules

After a U.S. Senate cloture vote failed on the CLARITY bill, which would set rules for digital asset markets, Bernstein forecast the Securities and Exchange Commission and Commodity Futures Trading Commission would accelerate rulemaking. It expects agencies to fill the legislative gap with administrative rules covering token classification, DeFi and self-custody developer protections, tokenised equities exemptions, RWA perpetual futures approvals and sports event contract swap classifications. Bernstein sees a revote as unlikely due to a tight Senate schedule and ethics concerns.

People & Appointments

Ku Hyuk-chae meets government-funded research institutes' labor, management to discuss follow-up after PBS abolition

Ku Hyuk-chae (구혁채), first vice minister of science and ICT, met labor and management at government-funded research institutes on Sept. 17 to discuss follow-up measures after the abolition of the project-based system, or PBS. Discussions covered R&D funding and changes to evaluation and compensation systems. The ministry is pursuing reforms including stable labor cost support, administrative specialization, new strategic research programs and performance-based evaluation and compensation, while expanding communication to reduce uncertainty.

Telecommunications & Media

KT to introduce sign-ups without IDs or passwords from October

KT will introduce an authentication system from next month that allows users to sign up and log in without an ID or password. The move aims to simplify sign-up and login procedures and reduce security risks tied to password-based authentication. New users will be able to log in using passkeys, PASS operated by South Korea’s three mobile carriers, or text verification. Some services will continue to require IDs and passwords.