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Crypto

Three U.S. Democratic senators publicly oppose Clarity Act, raising Trump crypto conflict of interest

Three Democratic U.S. senators have publicly opposed the Clarity Act, a digital asset market structure bill, saying moving it without provisions to block President Donald Trump and his family from profiting from crypto would protect his private interests. The stance matters because the bill needs 60 votes to overcome a filibuster, requiring at least seven Democratic votes. Disputes over ethics language and conflict-of-interest safeguards have added uncertainty to the timing and prospects for passage.

Industry

Semiconductor, battery direct refund scheme in focus ahead of July tax reform plan

A proposed direct refund scheme that would pay out semiconductor and battery investment tax credits in cash has emerged as a key issue ahead of the government’s late-July tax reform plan. South Korea largely relies on corporate tax credits that only apply when companies owe tax, limiting benefits for firms in early loss-making years. Industry groups say this can delay investment and call for U.S.-style refunds. Fiscal authorities are reviewing possible revenue losses.

Telecommunications & Media

HMD unveils four Nokia feature phones; \'AI button\' draws mixed reaction

HMD has unveiled four new Nokia-branded feature phones and added a dedicated artificial intelligence button to expand AI functions. The button launches Siki AI features such as calling, turning on a flashlight, setting alarms, opening the camera and adding schedules. HMD said limited generative AI functions are included, but it did not disclose the underlying model or architecture. AI is free for 180 days; later fees are unknown. Online reactions were mixed.