Crypto

Binance hack renews U.S. CLARITY Act debate over exchange oversight and asset-freeze powers

The Binance hacking incident has revived debate in Washington over the pending CLARITY Act. Supporters argue it would provide legal protection for faster freezes of suspicious transactions after law enforcement contact. Critics say the bill mainly requires court-ordered freezes by stablecoin issuers and does not support claims of broader authority. Industry groups are pressing Congress to prioritise customer asset protections and federal oversight for U.S. exchanges, while regulators again raise the need for federal registration.

Finance

Toss Bank minor debit card users near 1 million

Toss Bank said on Nov. 2 that its minor debit card customers total about 970,000, nearing 1 million, based on an analysis of usage data from January to September. It said about 18.8 percent of South Korea’s 7 to 18 population uses its debit card. Since March, excluding transport fares, minors made 21 payments per person per month on average and used cards on more than 11 days monthly. Convenience stores ranked first for payments.