Is the US Asset Modernization Act Moving Forward? | Seo Dong-ju, Kim Dong-hwan, Choi Yoon-young, Hanwha Investment & Securities Team Leaders

Summary

Choi Yoon-young of Hanwha Investment & Securities discusses US crypto regulation and tax developments, focusing on SEC token-securities guidance, the stalled CLARITY Act, the Strategic Bitcoin Reserve bill, and a digital-asset tax clarity bill. She sees the SEC's tokenized-stock opening and the Bitcoin reserve bill's no-sale provision as positive for tokenized equities and Bitcoin, while regulatory timelines and tax rules remain uncertain. The episode also covers Korean crypto taxation and deferral debates.

• SEC issued token-securities guidance that favors tokenized actual stocks over synthetic price-tracking tokens.
• The guidance allows tokenized stock trading through DeFi AMMs and liquidity pools, supporting tokenized equity market development.
• The CLARITY Act has stalled, and the legislative calendar is tight before the session ends.
• The Strategic Bitcoin Reserve bill would have the US government hold confiscated Bitcoin long-term and study budget-neutral purchases.
• A digital-asset tax clarity bill passed committee with simplified treatment for donations, sales, and small network fees.
• Korea's crypto tax is scheduled for 2027 but faces debate over loss offsets, staking, DeFi, and further deferral.
• The guest sees supply-demand positives for Bitcoin and regulatory positives for tokenized equities, but no clear trade from tax changes.