Crypto

White House engages industry as Clarity Act wavers and crypto market splits

The dominant theme in digital assets over the past week was the U.S. Digital Asset Market Structure Act, known as the Clarity Act. As the bill stalls, the White House and regulators expanded direct contacts with the industry. In South Korea, a revised anti-money laundering law takes effect on Aug. 20, tightening entry requirements. Markets also tracked bitcoin’s range near $63,000, sharp debate over its outlook, XRP weakness and growing won stablecoin proof-of-concept activity.

Crypto

Upbit, Bithumb earnings slump as trading value falls, push to diversify in H2

South Korea\'s digital asset trading market has contracted, sharply reducing first-half results at leading exchanges Upbit and Bithumb. Dunamu, which operates Upbit, said operating profit fell about 80 percent from a year earlier, while Bithumb\'s operating profit dropped more than 80 percent and it posted a net loss amid digital asset valuation losses. The two firms are expanding services and preparing for corporate clients while boosting compliance and security investment.