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According to News1, the ruling party in South Korea, the People Power Party, will hold a closed-door meeting at the Coinone headquarters with representatives from the five major cryptocurrency exchanges: Upbit, Bithumb, Coinone, Korbit, Gopax, and DAXA.The purpose of this meeting is to discuss proposals for the abolition of the virtual asset tax system originally scheduled to be implemented in January 2027, and to hear relevant suggestions regarding the issuance of stablecoins and the preparation of the second phase of legislation.Previously, the party whip Song Yeon-sik proposed on March 19 the "Partial Amendment to the Income Tax Act" to abolish the virtual asset income tax, arguing that in the context of the abolition of the financial investment income tax, continuing to tax virtual assets raises issues of fairness and double taxation, and that consistency in the tax system should be maintained.

A U.S. federal judge has dismissed the remaining state law claims against Uniswap Labs and its founder Hayden Adams, bringing an end to this protracted class action lawsuit.The lawsuit sought to hold the developer of this decentralized trading platform accountable for fraudulent tokens traded on its protocol. U.S. District Judge Katherine Polk Failla of the Southern District of New York issued a ruling that definitively dismissed the plaintiffs' second amended complaint, ruling that the plaintiffs could not hold the company liable for the misconduct of unidentified third-party token issuers. Uniswap's General Counsel Brian Nistler stated that this ruling sets an important precedent for the DeFi industry, reaffirming that developers are not responsible for illegal activities conducted by third parties using open-source code.

According to market news, Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York has dismissed the class action lawsuit against Uniswap Labs and its founder Hayden Adams. This ruling ends a long-standing legal attempt to hold DEX developers accountable for "fraud tokens" traded on their platform.In her ruling, the judge stated that holding the creators of smart contract code responsible for third-party abuses of decentralized platforms is "illogical," and emphasized that merely providing a platform does not equate to substantial assistance in fraud. Since the plaintiffs failed to present valid legal claims even after multiple amendments to the complaint, the judge decided to "dismiss the case with prejudice," meaning the plaintiffs cannot sue again on the same grounds.Uniswap's General Counsel Brian Nistler stated that this ruling sets an important precedent for the DeFi industry, reaffirming that developers are not responsible for illegal activities conducted by third parties using open-source code.

A U.S. federal judge ruled to dismiss the remaining state law claims against Uniswap Labs and its founder Hayden Adams, ending a years-long class action lawsuit.The plaintiffs attempted to hold the platform liable for losses incurred from "scam tokens" traded on the Uniswap protocol. Judge Katherine Polk Failla of the Southern District of New York issued the ruling on Monday, dismissing the plaintiffs' second amended complaint "with prejudice," stating that the plaintiffs failed to present a viable legal claim. The court noted that the plaintiffs had multiple opportunities to amend their complaint but still could not demonstrate that Uniswap was responsible for the misconduct of unnamed third-party token issuers.The plaintiffs claimed to have suffered losses due to actions such as "rug pulls" and "pump-and-dump" schemes, arguing that Uniswap "aided fraud" by providing a platform for buyers and sellers to trade. However, the court clearly stated that merely providing a decentralized trading platform does not constitute "substantial assistance" to fraudulent activities. Judge Failla reiterated her previous view that holding developers of smart contract code responsible for the abusive actions of third parties on decentralized platforms is "logically difficult to sustain."The case was initially filed in 2022 and originally included federal securities law claims. The related securities claims were dismissed in 2023, and the Second Circuit Court of Appeals upheld that ruling, remanding the remaining state law claims to the district court for consideration. This ruling signifies the formal conclusion of the case and further tightens the boundaries of state law liability for DeFi platform developers.

According to Jinshi reports, U.S. Trade Representative Tai stated on CBS's "Face the Nation" program on Sunday that the agreements reached with countries such as the EU and South Korea remain in effect.He attempted to distinguish these agreements from the 15% global tariff plan announced by Trump on Saturday. Tai said, "We want them to understand that these deals will be successful deals. We will fully support these deals. We also expect our partners to fully support these deals."He also mentioned that other U.S. trade measures, including investigations into the trade practices of other countries, will provide advantages for the U.S. He had conversations with EU officials over the weekend and will also communicate with officials from other major U.S. trading partners to convey a message of reassurance.

According to Gate market data, the S&P 500 index and the Nasdaq 100 index have given back some of their gains after a surge triggered by the tariff ruling.

According to South Korean media reports, the ruling Democratic Party of Korea has finalized the name of its bill aimed at regulating the virtual asset market as the "Basic Law on Digital Assets," and plans to submit it before the New Year holiday.They also agreed to set the minimum legal capital requirement for stablecoin issuers at 5 billion won (approximately 3.5 million USD). However, sensitive issues such as the scope of the central bank's authority and major shareholder ownership restrictions will be finalized after further coordination with the policy committee.

According to Jinshi Data, White House National Economic Council Director Hassett: After the Supreme Court's (unfavorable) ruling, Trump can immediately implement a 10% tariff.

According to DL news, Kim Byung-ki, the floor leader of South Korea's ruling Democratic Party, has been accused of attacking the South Korean cryptocurrency exchange Upbit after his son obtained an internship position at Bithumb.A former assistant of Kim revealed that he was suddenly instructed in February to "attack" Upbit's operator Dunamu, claiming that its "monopolistic" market dominance is a serious issue. It is reported that this instruction came shortly after Kim's private meeting with Bithumb.Kim denied these allegations, stating that he merely expressed the common-sense view that "no company's monopoly can be justified" and emphasized that Bithumb's operations and hiring "have nothing to do with me."

The founder of Terraform Labs, Do Kwon, will receive a ruling from U.S. District Judge Paul Engelmayer later today in a Manhattan court. Reports indicate that prosecutors have requested the court to impose a 12-year prison sentence on Do Kwon, citing factors including his guilty plea.Previously, during a hearing presided over by Federal Judge Paul Engelmayer in the Southern District of New York, Do Kwon pleaded guilty to charges of conspiracy to commit fraud and wire fraud. In January of this year, he had pleaded not guilty to nine charges, including securities fraud, wire fraud, commodities fraud, and money laundering.

Trump defended the tariff policy strongly in a post on Truth Social, stating, "Due to the convenience and rapid implementation of tariffs, our national security has been greatly enhanced, and the United States has become the strongest economic power in the world to date. Only evil forces would want to see this situation come to an end!The greatest historical threat to American national security will be an unfavorable ruling by the Supreme Court regarding tariffs. At that time, we will be completely defenseless economically."

The ruling Democratic Party of Korea has requested the government to submit a new bill by December 10 to regulate stablecoins pegged to the Korean won. Kang Jun-hyun, the chair of the party's policy committee, stated that the draft bill will only allow alliances with at least 51% ownership by commercial banks to issue fiat-pegged tokens.Kang Jun-hyun mentioned that this move aims to coordinate the positions of the Bank of Korea, the Financial Services Commission, and the banking sector. If the government fails to take action, Kang Jun-hyun stated that the National Assembly will lead and advance the legislation. The proposal restricts the issuance of stablecoins to alliances with at least 51% ownership by commercial banks to address long-standing disputes over the qualifications of issuing entities. However, the Financial Services Commission later issued a statement saying, "No final decisions have been made regarding the alliance proposal."

The ruling party and opposition party in South Korea have reached a breakthrough agreement on the regulatory framework for stablecoins, planning to pass the complete "Digital Asset Basic Law" by January 2026. The bill establishes a "Korean-style stablecoin" alliance structure, requiring banks to hold at least 51% equity, while technology companies can participate as minority shareholders.Democratic Party lawmaker Kang Jun-hyeon has set December 10 as the deadline for the government proposal; if the financial authorities fail to submit on time, the lawmaker will introduce an independent version.

According to market news, South Korean lawmakers plan to fully pass the "Digital Asset Basic Act" by January 2026. The bill will establish a "Korean-style stablecoin" with a consortium structure, in which banks hold at least 51% of the shares, while technology companies can participate as minority shareholders.Democratic Party representative Kang Jun-hyeon has set the deadline for the government proposal submission to December 10. The lawmaker warned that if the finance department fails to complete the proposal on time, the lawmakers will introduce an independent version.

According to Jinshi, the White House is preparing alternative tariff plans before the court ruling.

The founder of TRON, Justin Sun, responded on the X platform to the ruling of the Dubai Digital Economy Court, expressing gratitude for the court's issuance of a freezing order to protect the rights of TUSD holders for the first time globally. He wrote in a tweet: "Justice may be delayed, but it will never be absent."The freezing order involves $456 million in funds related to Justin Sun's rescue of TrueUSD issuer Techteryx. The Dubai Digital Economy Court noted in its ruling that there are "serious issues that need to be examined" regarding Techteryx and determined that the funds in question should be held in trust to prevent improper transfer or concealment of assets. The funds have been controversial due to issues with TrueUSD's reserve shortfall, involving the Dubai trade financing company Aria Commodities DMCC.The incident dates back to between 2021 and 2022, when part of TrueUSD's reserve funds flowed into Aria through the Hong Kong trustee First Digital Trust (FDT). Techteryx alleged that these transfers violated custodial terms, converting the original cash reserves into long-term loans and private transactions. Justin Sun held a press conference in Hong Kong in April 2025, accusing financial institutions including First Digital Trust Limited (FDT) and Legacy Trust Company Limited (Legacy Trust), as well as a private company in Dubai, of illegally misappropriating $456 million in fiat reserves for TUSD.

On Thursday, U.S. President Trump publicly acknowledged for the first time that American consumers "may" bear "some" of the higher prices resulting from the tariffs he has implemented, marking a significant shift from his long-standing assertion that "foreigners pay." This statement comes as the U.S. Supreme Court questions the legality of his use of executive power to set tariffs. Trump had previously warned that any ruling stripping him of his tariff powers would be "catastrophic." He stated that if the ruling is unfavorable, his administration must immediately initiate some sort of "Plan B" to respond, claiming that such a move would have a "devastating impact" on the United States. (Jinshi)

According to The Block, the U.S. Tenth Circuit Court of Appeals upheld the ruling that Custodia is not entitled to a Federal Reserve master account. TD Cowen's analysis describes this outcome as a "speed bump rather than a roadblock," suggesting that there is still hope for crypto banks to access the central bank's payment system through a "streamlined master account" in the future.Currently, institutions including Coinbase, Ripple, and Circle are also seeking national trust bank charters.

ChainCatcher news, according to RBC-Ukraine, 32-year-old Ukrainian cryptocurrency blogger Konstantin Ganich (online name Kudo) has died in Kyiv. The police found his body in a car with a gunshot wound to the head, with a weapon registered in his name nearby, initially ruled as suicide.Kudo was a well-known cryptocurrency blogger and the CEO of Cryptology, engaged in financial and trading consulting and education. In a recent interview, Kudo mentioned that his partner had stolen his funds and disappeared. Kudo had expressed to friends and family that he was feeling down due to financial difficulties and left a suicide note.