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Finance

ISA revamp plan under review after reconsideration, compared with advanced financial countries

South Korea\'s government is reviewing whether to scrap or ease limits in its ISA revamp plan, including restrictions on rolling over unused contribution limits and maturity caps for a productive finance ISA. The move follows investor backlash and President Lee Jae-myung\'s order for a full reconsideration. The article compares practices in Japan, Britain and Canada, where tax-advantaged accounts allow long-term use, flexible withdrawals and rollover of unused limits.

Finance

Youth Future Savings applications begin, focus on young adults\' fund flows

Applications for the Youth Future Savings policy savings product began on Sunday, drawing attention to whether young adults\' money will extend beyond deposits and instalment savings into individual savings accounts (ISA) and domestic investment products. The product offers a 3-year fixed rate with maximum rates of 7 to 8 percent. Interest in ISA accounts is also rising, while overlap limits among youth-targeted products could affect demand.

Crypto

Bitcoin investment spreads to U.S. politics as BlackRock IBIT purchase filing draws attention

U.S. Republican Representative Sheri Biggs disclosed that her spouse bought about $250,000 of BlackRock’s spot bitcoin ETF, IBIT, in a March 4 trade. A filing submitted to the House clerk showed the purchase ranged from $100,001 to $250,000 and was made through a professionally managed spouse account at UBS Financial Services. The disclosure comes as the Senate considers bitcoin-related legislation, including a proposal for the Treasury to buy 1 million bitcoins over five years.