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Finance

IPO market stirs as duplicate listing ban takes effect, investor sentiment still weak

More than a month after South Korea began enforcing guidelines that ban duplicate listings in principle while allowing exceptions, some long-delayed listing reviews have resumed and IPO supply in September is expected to increase. Investor appetite for IPOs remains weak, with most newly listed firms in August trading below their offer prices. New rules impose duties on parent boards and require subsidiary independence, while market watchers cite softer demand in bookbuilding and subscriptions.

Crypto

Digital asset taxation four months away, calls to redesign blanket other-income classification

With digital asset taxation set to begin next year, a proposal has emerged to revise the current system that classifies both transfer and lending income as other income. Speakers at a National Assembly forum said income categories should reflect the economic substance of different transaction types, including trading, mining and staking. They also called for stronger enforcement infrastructure, including linking transaction data across domestic and overseas exchanges and personal wallets.

Crypto

Strategy says selling bitcoin at $60,000 and buying at $80,000 was right at the time

Strategy sold bitcoin in the $60,000 range and later repurchased it in the $80,000 range, but CEO Phong Le said both moves were appropriate given funding conditions at the time. He said the company’s decisions are driven by its balance sheet and financing costs rather than bitcoin price forecasts. Strategy sold 6,916 bitcoin and later bought 4,603 bitcoin using proceeds from selling MSTR shares, lifting holdings to 845,050 bitcoin.