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Taiwan Crypto Law Is Urgently Promoting For Release In September

Key Points:

The Taiwan crypto law is expected to be released in September for market stability and investor safety.
Study results on overseas Bitcoin ETFs are expected in April, offering new investment avenues.
The FSC Chairman warns of crypto risks and emphasizes regulatory commitment for investor protection.

According to local sources, Taiwan’s Financial Supervisory Commission (FSC) is gearing up to propose a comprehensive draft law targeting the cryptosphere in September, aiming to fortify market regulation and safeguard investor interests.

Taiwan Crypto Law Is Set to Introduce Stringent

Huang Tianmu, Chairman of the FSC, emphasized this Taiwan crypto law, underscoring the need for stricter penalties for both individual and overseas crypto dealers to uphold market stability and security.

In his announcement, Tianmu outlined the Taiwan crypto law, including forthcoming guidelines for crypto and cautionary measures for investors. He stressed the FSC’s vigilance towards the nexus between crypto and traditional finance, underscoring the necessity for tailored legislation to ensure financial market stability.

Meanwhile, Gao Jingping, Deputy Director of the Securities and Futures Bureau, disclosed that the results of a study on investing in overseas Bitcoin ETFs will be unveiled in April, potentially expanding investment avenues for Taiwanese investors and enhancing market diversity.

FSC Chairman Issues Crypto Investment Caution

However, Tianmu issued a stern warning regarding crypto investments, highlighting their inherent risks and speculative nature. With approximately 10 virtual currency dealers operating in Taiwan, Tianmu urged investors to steer clear of unapproved overseas platforms to avert fraudulent schemes and protect their investments.

Furthermore, Tianmu reiterated the FSC’s regulatory stance on the crypto market, hinting at the potential inclusion of Bitcoin spot ETFs within the regulatory purview. He cautioned against associating crypto with the real economy and underscored the risks associated with unapproved overseas investments.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.