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Finance

Tighter rules on spin-off listings as new review standards for duplicate listings take effect Aug 3

Subsidiaries created through a physical split must obtain parent-company shareholder approval to seek a duplicate listing on South Korea\'s stock market. Other subsidiaries will be presumed to meet shareholder-protection requirements if they secure approval, but will face stricter case-by-case reviews by the Korea Exchange if they do not. The Financial Services Commission approved amended listing and disclosure rules and new guidelines, which take effect on Aug. 3.

Crypto

Bessent says Clarity Act cannot be delayed, urges immediate Senate vote

U.S. Treasury Secretary Scott Bessent urged the Senate to hold an immediate vote on the Clarity Act, a digital asset market structure bill. He said Democrats are delaying for political reasons and warned the United States could lose leadership without clear rules. Bessent defended the bill’s consumer protection and anti-illicit finance provisions and backed a clause codifying Treasury policy on decentralized developers. Negotiations remain stalled over ethics provisions.

Crypto

U.S. Clarity bill talks stumble late over developer protection clause

Negotiations on the U.S. Senate’s Clarity digital asset regulation bill are facing late hurdles as an amendment on protecting cryptocurrency software developers triggers opposition from both the White House and the industry. Democrats offered compromises on regulator appointments and ethics provisions, but divisions persist over the scope of developer liability. The bill would create a new federal framework and grant broader enforcement powers to the SEC and CFTC, leaving negotiators needing to rework language.