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<a href="https://bitcoinworld.co.in/taiwan-tightens-crypto-regulations-considers-spot-bitcoin-etfs/" title="Taiwan Tightens Crypto Regulations, Considers Spot Bitcoin ETFs" rel="noopener noreferrer nofollow"></a>
Taiwan’s financial regulator, the Financial Supervisory Commission (FSC), is taking a two-pronged approach to crypto: stricter regulations and potential approval for spot Bitcoin exchange-traded funds (ETFs).
In September 2024, the FSC plans to propose a new draft of digital asset regulations aimed at bolstering investor protection and overseeing the industry more effectively.&nbsp;
This initiative comes amidst concerns regarding the growing connection between digital assets and the traditional financial system, as <a href="https://udn.com/news/story/123006/7807277" rel="noopener noreferrer nofollow">highlighted</a> by FSC chairman Huang Tien-mu.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/hungary-proposes-new-bill-to-allow-banks-to-provide-crypto-services/" aria-label="“Hungary Proposes New Bill To Allow Banks To Provide Crypto Services” (Edit)" rel="noopener noreferrer nofollow">Hungary Proposes New Bill To Allow Banks To Provide Crypto Services</a>
Huang also warned investors about potential fraud and emphasized that the new regulations will come with harsh penalties for fraudulent practices.
However, Taiwan isn’t solely focusing on tightening the reins.&nbsp;
The Chamber of Commerce is releasing a study on spot Bitcoin ETFs in April, suggesting a potential future for these investment products within the country’s regulated framework.&nbsp;
While welcoming the possibility of domestic spot Bitcoin ETFs, the FSC advises caution against investing in foreign crypto-based products due to regulatory uncertainties.
Taiwan’s commitment to fostering a responsible crypto environment is further evidenced by regulations implemented in September 2023.&nbsp;
These regulations require foreign cryptocurrency service providers to obtain approval before operating within the country and were established in collaboration with a newly formed self-regulatory association of major Taiwanese crypto exchanges.
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The post <a href="https://bitcoinworld.co.in/taiwan-tightens-crypto-regulations-considers-spot-bitcoin-etfs/" rel="noopener noreferrer nofollow">Taiwan Tightens Crypto Regulations, Considers Spot Bitcoin ETFs</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Taiwan Tightens Crypto Regulations, Considers Spot Bitcoin ETFs

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