The fate of the 'ethics clause' that threatens lawmakers' livelihoods and the Clarity Act. If it passes July, it's over | Seo Dong-ju, Kim Dong-hwan, Han Seo-hee, Gwangjang Law Firm Attorney [CryptoPLUS]

Summary

Attorney Han Seo-hee from Gwangjang Law Firm discusses the Clarity Act's current legislative status, the ethics clause controversy, and the likelihood of passage before the U.S. midterm elections. The conversation also covers stablecoin regulation, the potential role of big tech and banks, and the implications for Korean crypto taxation starting in 2027.

• The Clarity Act is at a critical juncture with the ethics clause being a major point of contention between parties.
• Han Seo-hee believes the act will likely pass by July 2026 due to political necessity before the November elections.
• The act would clarify the classification of digital assets as commodities or securities, boosting regulatory clarity.
• Stablecoin regulation under the act allows activity-based interest payments, opening new opportunities for issuers.
• Traditional banks may initially oppose but will eventually participate in the stablecoin market.
• Big tech's entry into stablecoin issuance in the U.S. is legally possible but not immediately profitable.
• Korea's crypto tax in 2027 uses a favorable cost basis rule, reducing the need to sell before then.
• The discussion highlights the global trend toward integrating digital assets into mainstream finance.