- Taiwan proposed a draft crypto act to the Legislative Yuan for the first time today.
- In September, Taiwan’s FSC released guidelines for virtual asset service providers.
- Lawmaker Yung-Chang Chiang noted that the new set of guidelines lacks legal enforceability.
In an update earlier today, Taiwan proposed a draft crypto act for its first reading. According to official documents, the proposal – which is aimed at governing cryptocurrency assets successfully cleared the first reading in the Legislative Yuan, Taiwan’s legislative body. Yung-Chang Chiang, one of the lawmakers in the Legislative Yuan who co-authored the special act, conveyed that,
After the first reading of the bill, discussions on the regulatory framework for the virtual asset industry have progressed to the next stage. We hope that the Financial Supervisory Commission (FSC) can also submit their version of a draft bill to the legislature, allowing various sectors of society to further consolidate consensus during the process.
On September 26, Taiwan’s FSC released a set of guidelines for virtual asset service providers (VASPs) with an added focus on safeguarding customer interests. These gui…
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