Taiwan’s Financial Supervisory Commission (FSC) to establish cryptocurrency regulations by September

Taiwan is set to implement a legislative framework to regulate cryptocurrencies by September this year, aiming to impose strict measures on both local and international cryptocurrency entities.
According to reports from local sources, Huang Tianzhu, the chairman of the Financial Supervisory Commission (FSC), expressed concerns about the increasing prevalence of fraudulent activities related to cryptocurrencies. He emphasized that crypto exchanges and foreign currency merchants would face strict administrative penalties.
Tianzhu also highlighted that virtual assets have no connection to the real economy and warned about the potential rise in investment disputes and risks associated with unregulated overseas investments.
The FSC chairman also emphasized the commission’s interest in bridging virtual currencies and the traditional financial system. He stressed the need for additional legislative efforts to regulate virtual assets and ensure the stability and security of financial markets.
Gao Jingping, the Deputy Director of the Securities and Futures Bureau, shared insights into the potential for Taiwanese investors to participate in foreign Bitcoin ETFs. He mentioned that findings from an ongoing investigation would be released in April, potentially opening up new investment opportunities and improving the market landscape.
With 10 entities in Taiwan currently involved in virtual currency trading, Tianzhu advised against using unauthorized international platforms to avoid fraud risks and maintain financial security.