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Search results for June 30

Games & Commerce

Naver-Dunamu merger hurdle eases as committee recommends amending enforcement decree

South Korea\'s Presidential Regulatory Reform Committee\'s growth subcommittee reviewed an enforcement decree revision to the Act on Reporting and Using Specified Financial Transaction Information on July 24 and recommended that the Financial Services Commission add an exception to fit-and-proper screening rules for major shareholders of virtual asset service providers. The recommendation could ease regulatory burdens raised during Naver\'s bid to acquire Dunamu. The revised law is set to take effect on Aug. 20.

Crypto

Tesla posts $112 million fair-value loss on bitcoin in second quarter

Tesla recorded a $112 million pretax fair-value loss in the second quarter due to falling cryptocurrency prices, cutting net income even without selling assets. Net income attributable to common shareholders fell $87 million after tax and earnings per share dropped $0.02. Digital assets had a carrying value of $674 million at June 30. Under FASB rules, digital assets are revalued each quarter, with changes hitting net income immediately.

Telecommunications & Media

Korea parliament science, ICT committee completes second-half lineup with AI budget, misinformation on agenda

South Korea\'s National Assembly Science, ICT, Broadcasting and Communications Committee begins second-half activities after ruling and opposition parties completed member assignments. The panel is expected to focus on securing budgets and setting investment priorities for government AI projects, ensuring power supply for AI data centres and chip plants, and overhauling broadcasting and telecom rules. It is also set to debate regulation of false and manipulated information, follow-up work on the AI basic law and media fund financing.