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Telecommunications & Media

Korea media watchdog votes to block access to overseas prediction market Polymarket

South Korea\'s Broadcasting Media and Communications Review Committee voted to block domestic access to the overseas prediction market platform Polymarket after judging it constitutes illegal gambling and speculative activity under Korean law. The committee said the platform could amount to aiding gambling or opening a gambling venue and similar acts under relevant statutes. It rejected arguments that removing Korean-language services and won payments or using decentralised technology exempts it from Korean laws.

Crypto

U.S. Treasury begins drafting detailed rules ahead of Genius Act rollout

The U.S. Treasury has begun procedures to draft rules to implement the Genius Act, a stablecoin regulation law. It has started collecting public comments on draft regulations ahead of the law’s planned rollout in January 2027. The law sets a framework for payment stablecoins in the United States, but the Treasury and other agencies have not finalised detailed rules by a July deadline. Treasury Secretary Scott Bessent said stakeholder input is needed.

Crypto

U.S. SEC delays crypto regulation meeting, possibly mindful of Clarity Act

The U.S. Securities and Exchange Commission delayed a planned meeting on crypto regulation after a reported request from the White House. Foreign media reports said the White House feared talks on a crypto fundraising rule and an exemption for securities-token trading could complicate congressional negotiations over the Clarity Act. Market participants also cited potential opposition from SIFMA and possible litigation. Policy discussions are expected to continue this week, including events at the White House.