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According to Cointelegraph, Protect Progress, an affiliated organization of the Fairshake super PAC closely related to the cryptocurrency industry, has submitted documents to the Federal Election Commission revealing that it has spent $362,000 on advertising to support Democratic incumbent Congresswoman Aisha Wahab in California's 14th congressional district, whose opponent is fellow Democrat Melissa Hernandez.Notably, Wahab defeated Hernandez with over 53% of the vote in the special election on August 18, aimed at filling the vacancy left by Eric Swalwell's resignation, which ends in January 2027. Swalwell resigned in April this year due to sexual assault allegations. Both Wahab and Hernandez were previously rated as "strongly supportive of crypto" in a questionnaire from the digital asset organization Stand With Crypto.Fairshake was established in 2023, primarily funded by Coinbase, Ripple Labs, and Andreessen Horowitz. Since the 2024 U.S. elections, the super PAC has invested tens of millions of dollars to support candidates it identifies as "pro-crypto." Its affiliated organization, Defend American Jobs, has also spent over $6.7 million opposing independent candidate Dan Osborn in the Nebraska Senate election and invested $8 million supporting incumbent Republican Jon Husted in Ohio, with total spending in that election exceeding $46 million.

On Friday, the French National Assembly passed Amendment I-3898 with 38 votes in favor, 37 against, and 25 abstentions, proposing to tax certain cryptocurrency exchanges for stablecoin transactions. If the relevant provisions are approved, they are expected to take effect from 2027. This measure will change the way capital gains tax on cryptocurrencies is calculated, meaning that when investors exchange Bitcoin or other cryptocurrencies for stablecoins, the related gains may trigger taxation even if they have not been converted into fiat currency.The French National Assembly is scheduled to vote on the first part of the "2027 Finance Bill" on Tuesday. A proposal to carry forward realized cryptocurrency losses for 10 years was rejected by the assembly on Friday with 18 votes in favor, 75 against, and 3 abstentions. French lawmakers are also reviewing two cryptocurrency tax proposals: I-CF1822 aims to expand the exit tax to unrealized gains, applicable to taxpayers whose total cryptocurrency portfolio value exceeds 800,000 euros and who move their residence out of France; I-2701 proposes to require the declaration of holdings from self-custody wallets, with a threshold of total value exceeding 100,000 euros for the relevant tax year. Both proposals are still under review as of Monday.

According to The Defiant, the French National Assembly passed an amendment during the review of the 2027 budget proposal with 38 votes in favor and 37 votes against, aiming to eliminate the tax deferral treatment enjoyed when converting certain crypto assets into a single fiat-pegged stablecoin starting from January 1, 2027.A total of 100 members participated in the voting, with 75 votes counted as valid.

According to Decrypt, the French National Assembly's Finance Committee passed two cryptocurrency tax amendments this week: starting from January 1, 2027, exchanges of stablecoins regulated by MiCA will be considered taxable sales; and a departure tax will be imposed on tax households relocating overseas with a total value of cryptocurrency assets exceeding 800,000 euros.The committee rejected the budget revenue portion with a vote of 31 to 3, and the full National Assembly will review the original text from the government. The aforementioned amendments will not be automatically included; supporters must reintroduce them during the debate starting on October 13, with a formal vote scheduled for October 20.The related measures have not yet become law. The stablecoin amendment was proposed by left-wing GDR party member Nicolas Sansu and 16 co-signers, applicable to electronic money tokens as defined by MiCA. The amendment does not set a new tax rate but aims to include the related revenue under France's existing unified tax system of 31.4%.The committee also passed an amendment proposed by Daniel Labaronne, allowing investors to carry forward cryptocurrency asset losses for 10 years to offset future gains. The proposed departure tax applies to taxpayers who have been French tax residents for at least 6 of the past 10 years and whose cryptocurrency assets, including custodial assets, have a total value exceeding 800,000 euros.

According to South Korea's Chosun Ilbo, the National Tax Service of South Korea is accelerating preparations for the taxation of virtual assets by 2027, including the establishment of a new Digital Asset Comprehensive Division and the promotion of the construction of a comprehensive analysis system for virtual assets. However, the National Assembly has not yet scheduled the discussion on the petition signed by 50,000 people to abolish the virtual asset tax, and discussions have stalled.Under the current tax system, investment income from virtual assets is taxed at 22% after a deduction of 2.5 million won, while stock investors do not pay capital gains tax when buying and selling stocks on the exchange, and losses from virtual assets cannot be carried over to the next year, which has been criticized as unfair. Related discussions are expected to advance after the government's tax reform plan is announced at the end of July.

According to the South Korean media outlet "Seoul Economy," a nationwide petition calling for the cancellation of cryptocurrency taxes has been included in the agenda for discussion in the National Assembly. The "Petition to Cancel Virtual Asset Tax," published on the National Assembly's electronic petition platform, garnered support from over 50,000 people in just eight days, meeting the criteria for submission to the permanent committee for review. The petition will be handed over to the Finance and Economy Committee, which oversees the Ministry of Economy and Finance and the National Tax Service, for examination, after which it will be decided whether to submit it for consideration by the plenary session. Petitioners argue that "since the financial investment income tax on stocks has been abolished and tax reduction policies have been implemented, it is unreasonable to impose a separate tax solely on virtual currencies," adding that "the current system needs a comprehensive review, not just simple supplementation."

According to market news, the National Assembly of South Korea has passed an amendment to the Foreign Exchange Transaction Act, requiring companies engaged in cross-border transfer of virtual assets to register with the Ministry of Economy and Finance, bringing the cross-border flow of virtual assets such as stablecoins under the management system of the foreign exchange authorities.The amendment newly defines "virtual asset transfer business," covering activities that transfer virtual assets between South Korea and foreign countries through buying, selling, exchanging, etc. Virtual asset exchanges and custodians are also included in the registration scope. The amendment also reorganizes the foreign exchange business system, integrating the original currency exchange, small overseas remittances, and other businesses into "general currency exchange business" and "overseas payment settlement business." For violations of foreign exchange transaction procedures aimed at obtaining improper benefits, the penalty has been increased from fines of less than 50 million won to imprisonment of less than one year or fines of less than 100 million won.

According to market news, the South Korean National Assembly has voted to pass amendments to the Capital Markets Act and the Electronic Securities Act, marking the formal establishment of a framework for the issuance and circulation of security tokens (STOs) in the country, about three years after the financial regulatory authorities released relevant guidelines. The core content of the amendments includes the introduction of the concept of distributed ledger technology, allowing eligible issuers to directly issue and manage tokenized securities through electronic registration, while also establishing a "Issuance Account Management Institution."In addition, non-typical securities such as investment contract securities will also be included under the regulation of the Capital Markets Act, and their circulation in the over-the-counter market will be permitted through the newly established over-the-counter brokerage business. The amendments to the Capital Markets Act will take effect from the date of publication. However, provisions related to investment solicitation guidelines will take effect six months after publication, while provisions related to over-the-counter trading will take effect one year after publication.

ChainCatcher news, according to Yonhap News Agency, South Korean National Power Party member Park Sung-hoon will propose an amendment to the Foreign Exchange Transaction Act to include stablecoins within the scope of legally defined payment methods.The bill aims to amend Article 3, Section 1 "Definitions" to list stablecoins alongside government-issued currency, banknotes, and coins as payment methods. Member Park stated that while the potential for stablecoins, which are pegged to the value of fiat currency, to serve as new payment methods is recognized, their nature differs from existing fiat currencies, leading to their exclusion from being recognized as payment methods under the Foreign Exchange Transaction Act. This creates regulatory blind spots that could result in illegal foreign exchange transactions and tax evasion through stablecoins. The Bank of Korea has previously expressed similar concerns, pointing out that dollar-pegged stablecoins could be used for cross-border current account and capital transactions without the declaration procedures stipulated by the Foreign Exchange Transaction Act, warning that the spread of stablecoins may facilitate illegal transactions that evade foreign exchange regulations. The South Korean Ministry of Economy and Finance has expressed support for this bill, stating that it is in discussions with relevant institutions such as the Financial Services Commission and the central bank to negotiate specific regulatory measures.

ChainCatcher news, according to an interview with the Seoul Economic Daily, former National Assembly Secretary General and distinguished professor at Myongji University Lee Kwang-jae stated that it is necessary to ensure that the won-denominated stablecoin can be traded on global exchanges such as Binance and Coinbase, and to allow foreign investors to participate on local platforms like Upbit and Bithumb to enhance international usability. He also claimed that Samsung may issue a stablecoin in the future and integrate it into the payment system.

ChainCatcher news, according to Digital Asset, on August 27, victims of the Delio scam held a rally in front of the National Assembly in Yeongdeungpo District, Seoul, expressing their anger towards organized fraud and calling for the enactment of the Special Act on Organized Fraud. Victim A stated that she entrusted 2.5 BTC to Delio but was unable to retrieve it.At the rally, People Power Party member Jang Bae-sook emphasized that the current judicial system is unable to effectively handle economic crimes, resulting in a large number of victims. She stated that she would push for the passage of the Special Act on Organized Fraud to strengthen penalties for fraudulent activities and provide relief for victims. The event was organized by Jang's office and the Korea National Fraud Prevention Association, attracting many victims and related individuals to participate.

ChainCatcher news, according to Digital Today, the Chairman of the Financial Services Commission of Korea, Kim Byung-hwan, stated that preparations for the second phase of virtual asset-related legislation (i.e., the "Basic Law") are planned to be completed before the regular National Assembly session in September.At the meeting of the National Assembly's Second Political Affairs Committee, in response to a question from Democratic Party member Min Byung-deok regarding the submission plan for the legislation, Chairman Kim responded, "We will prepare to ensure that the legislation can be discussed during the regular National Assembly session."

ChainCatcher news, Han Ji-hoon - The Bank of Korea (hereinafter referred to as "BOK") urges the National Assembly to strengthen regulations on dollar stablecoins, citing that their widespread adoption is threatening South Korea's monetary sovereignty. Notably, this call comes as representatives from Circle, the issuer of the major dollar stablecoin USDC, are about to engage in a series of talks with senior executives from South Korean commercial banks.The BOK emphasized: "The government and the National Assembly urgently need to revise relevant laws such as the Foreign Exchange Transaction Act." The BOK is particularly concerned that the popularity of dollar stablecoins could trigger a "currency substitution" phenomenon, thereby negatively impacting the effectiveness of monetary policy and monetary sovereignty. Furthermore, the BOK assesses that "the outflow of dollars through stablecoins may also exacerbate instability in the foreign exchange market."

ChainCatcher news, according to Cryptonews, the South Korean National Assembly is accelerating the review process of the "Securities Token Offering Act." Two STO-related bills submitted by lawmakers Min Byeong-deok and Kim Jae-seop have entered the discussion stage in the government committee. The newly elected Democratic Party president Lee Jae-myung has clearly supported the legalization of STOs, which may break the legislative deadlock that has persisted since December of last year.The report points out that major securities companies and technology firms in South Korea have been preparing a large number of STO issuance plans over the years, involving real estate, commodities, and intellectual property sectors. Although former President Yoon Suk-yeol had repeatedly promised to promote the legalization of STOs without success, the current ruling and opposition parties have rarely reached a consensus, and the financial market hopes that the new government can complete the legislative process as soon as possible. If the bill is passed, it will abolish the blockchain token issuance ban implemented in the late 2010s and establish a compliance framework for institutional issuance of asset-backed tokens.

ChainCatcher news, according to Yonhap News Agency, it is reported by the financial investment community and political circles that the tokenized securities legislation (amendments to the Capital Markets Act and the Electronic Securities Act) currently under review in the South Korean National Assembly is expected to be passed after the presidential election. Presidential candidates Lee Jae-myung and Kim Moon-soo have both emphasized in their campaign promises the need to expedite the legislation for tokenized securities. The legalization bill for tokenized securities received unanimous agreement from both ruling and opposition parties during the 21st National Assembly, but failed to pass due to external factors such as a deadlock in the National Assembly.

ChainCatcher news, Bitcoin.com News posted on social media that California Assemblyman Juan Carrillo Valencia has introduced Bill No. 1052 (AB-1052), known as the "Bitcoin Rights Act," aimed at securing financial freedom for 40 million people in the United States, protecting users' rights to hold Bitcoin, enabling penalty-free payments, and establishing genuine custodial rules for lost assets.

ChainCatcher news, according to Jinshi reports, the South Korean National Assembly held a second voting session on the impeachment of President Yoon Suk-yeol, which passed with sufficient votes.It is reported that the South Korean National Assembly held a plenary session at 4 PM local time on the 14th to vote on the impeachment motion of President Yoon Suk-yeol proposed for the second time by the opposition camp. According to the voting results, the impeachment motion was ultimately passed, and President Yoon Suk-yeol's presidential duties were immediately suspended. After the impeachment of President Yoon Suk-yeol, South Korean Prime Minister Han Duck-soo was appointed as acting president.