Taiwan and El Salvador join forces to enrich crypto regulation

Taiwan and El Salvador join forces to enrich crypto regulation
фото показано с : invezz.com

2023-9-19 12:13

Wu Blockchain’s X post reveals that the Taiwan Crypto Association communicated with El Salvador’s Virtual Assets Bureau, Presidential Office, and central bank, calling for enhanced regulatory capabilities.

Taiwan’s current rules don’t allow cryptocurrency derivatives trading and stablecoin issuance, stressing the need for legislation to support the crypto market.

El Salvador remains among the few crypto-friendly countries. It made Bitcoin a legal tender in September 2021.

Taiwan’s crypto regulation stance

Taiwan’s latest Virtual Asset Supervision public hearing by legislator Kuo Kuo-wen saw crypto discussions dominating. They highlighted various topics with potential creation, including leveraged derivatives trading and introducing a devoted Financial Technology Bureau.

Attendees included representatives from Bitfinex and Binance crypto exchanges. The Virtual Assets Bureau will enhance crypto trader protection and oversee digital asset trading activities.

Further, a local source revealed that Taiwan will introduce its VASP guidelines by the end of September. The Financial Supervisory Commission (FSC) will monitor digital currencies, fight money laundering, and ensure crypto firms and exchanges comply with set regulations.

FTX crisis triggered Taiwan’s crypto regulation push

Taiwan was among the regions with a hand-off crypto regulation stance, only monitoring the asset class to avoid money laundering. The authorities licensed 24 cryptocurrency firms under the anti-money laundering system in September 2022.

Nonetheless, FTX’s debacle prompted regulators to ensure regulation. The now-bankrupt exchange attracted many Taiwanese with its friendly interest rates for USD deposits.

While mainland China banned crypto mining and trading, the latest moves by the Taiwan Crypto Association match the efforts by regulators to ensure control over the ever-changing crypto industry, focusing on a robust regulatory framework.

The post Taiwan and El Salvador join forces to enrich crypto regulation appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

New Taiwan Dollar (TWD) на Currencies.ru

$ 3107048.19 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $3107048.19 - H: $3180160.38
Капитализация $0 Rank 99999
Цена в час новости $ 860327.71 (261.15%)

taiwan crypto salvador office presidential assets virtual

Источник: invezz.com

taiwan crypto → Результатов: 84


Taiwan’s second-largest telecoms company explores investments in local crypto firms

Taiwan Mobile, the second-largest telecom company in Taiwan, is reportedly exploring collaborations and investments in local crypto firms, according to a June 13 report from Bloomberg. Taiwan Mobile is engaged in preliminary discussions with crypto platforms for potential strategic partnerships, three unnamed sources told Bloomberg.

2023-6-13 17:15


Фото:

Taiwanese Crypto Exchanges Given July 1 AML Compliance Deadline 

Authorities in Taiwan have made it clear to cryptocurrency exchanges and bitcoin (BTC) trading platforms in the region that they have until July 1, 2021, to fully comply with existing anti-money laundering (AML) regulations in the region, according to a press release by the Financial Supervision and Administration Commission (FSC) on April 20, 2021. Taiwan’sRead More

2021-4-26 21:00


HTC’s EXODUS 1S Launches Monero (XMR) Mining Directly on Blockchain Smart Phone

HTC, the Taiwan based smartphone manufacturer is all set to dive deeper into the decentralized space with its Monero mining smartphones. The smartphone brand made several headlines in the past year with its blockchain-focused Exodus range of smartphones which not only had inbuilt crypto wallets, but many devices also had the capability to run a […]

2020-4-11 17:44


New Wirex Visa Travelcard To Reward Users With 1.5% in Bitcoins on All In-Store Purchases

Crypto and fiat multi-currency accounts provider, Wirex has officially launched its travel Visa card as of Monday, November 11, 2019. Considering the fact that the firm focuses on establishing connections around the world with its services, the new travelcard will first be made present in the Asia-Pacific region, namely, Singapore, Taiwan, Hong Kong, South Korean, […]

2019-11-12 01:17


Taiwanese Crypto Con Artists Arrested for $51 Million Bitcoin Investment Scam, Violated Country’s MLM Policies

A Group of Bitcoin con artists in Taipei, Taiwan, have recently been charged by the police for creating a crypto scam that took millions of dollars from investors. Both foreign and local investors were fooled according to The Next’s Web’s Hard Fork, which has also reported on this story. The scam began on October 2016 […]

2019-1-18 23:03


New Crypto Rumor Says Bitmain Is Possibly Losing Taiwan Bitcoin Mining Chip Supplier TSMC

Bitmain May Lose Chip Supplier Bitmain is a bitcoin mining manufacturer that will no longer be receiving chips from its supplier, called Taiwan Semiconductor Manufacturing Company TSMC. The platform’s relationship with TSMC is not in good shape, as the company is in arrears in the amount of over $300 million. Bitmain has, at one point, […]

2018-11-5 19:59


дальше еще 35 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru