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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.

AI & Enterprise

PIPC fines Bithumb 210 million won for violating overseas transfer of personal data

South Korea\'s Personal Information Protection Commission on June 24 imposed a 210 million won fine on Bithumb for violating rules on overseas transfers of personal data and approved an order to take corrective steps to meet legal requirements. The commission launched an investigation after questions were raised during a 2025 parliamentary audit about the legality of personal data transfers linked to sharing an order book. It also established privacy guidelines for blockchain services.

Crypto

XRP runs alone as clash over U.S. Clarity Act intensifies

In the first week of June, the crypto market moved around three themes: XRP’s outperformance, bitcoin’s lack of direction and a power struggle over the U.S. Clarity Act. Spot bitcoin ETFs logged outflows for 10 straight sessions, pushing cumulative net outflows close to $3 billion, while XRP ETFs extended net inflows. JPMorgan publicly opposed the bill, citing a ban on paying interest to stablecoin holders, prompting pushback from Coinbase and support from Senator Cynthia Lummis.