The 'safe' wallet can no longer be trusted... Hacking targeting seed phrases | Seo Dong-ju, Kim Dong-hwan, Ham Ji-hyun Blockmedia Reporters

Summary

The panel discusses crypto market conditions and regulatory/security news. Bitcoin is consolidating around $64,000 after failing at $65,000, while US regulatory clarity improves via the Clarity Act cloture vote and SEC Regulation Crypto. Korea blocks Polymarket and moves toward crypto taxation despite objections. The episode also warns that seed phrase and hardware wallet hacks are breaking the self-custody safety myth.

• Bitcoin trades near $64,000 after facing resistance at $65,000; Kimchi premium has reversed to a discount.
• Senator Lummis schedules a Clarity Act cloture vote for September 15, a positive step for US crypto regulation.
• The Clarity Act would separate token commodity status from investment-contract securities treatment, helping assets like Ethereum and XRP.
• SEC's Regulation Crypto proposes exemptions for token issuers, including $5M registration-free and $75M with disclosure.
• Korea's Communications Standards Commission blocks Polymarket, citing gambling and speculation concerns.
• Crypto tax in Korea is likely to proceed in 2027 despite fairness and acquisition-cost verification concerns.
• Seed phrase hacks, Trezor data leaks, and Coldcard firmware issues are challenging the safety of self-custody.