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Taiwan&#39;s Financial Supervisory Commission (FSC) has <a href="https://pchome.megatime.com.tw/news/cat1/20241008/17283998889300522003.html" rel="noopener noreferrer nofollow">plans</a> to start a trial for banks to manage digital assets, aiming to boost financial innovation. The trial is set to start in the first quarter of next year and invites local banks to join in.Three banks have already shown interest in this trial. The program is designed to serve not only digital asset exchanges but also professional investors, expanding traditional banking services.Hu Zehua, director at the FSC, discussed the plan at a press conference. He explained that the FSC would share detailed plans with the public for 15 days to get feedback before officially taking applications from banks. This feedback will help refine the trial’s rules.The trial will focus on how to safely manage digital currencies like Bitcoin, Ethereum, and Dogecoin. The FSC emphasizes the need for strong security to protect against theft and strict measures to prevent money laundering, ensuring that all managed digital assets are from legal sources.A new law expected by the end of this year will set clear rules and help the digital asset industry grow. This will make it easier for banks to get involved in this new area. At first, these services will be for digital asset exchanges. Later, they may open up to professional investors after confirming the security setup is strong. Offering these services to regular investors is still considered uncommon, showing a careful approach to these new bank services.<a href="https://cryptotale.org/taiwans-fsc-launches-bank-led-crypto-custody-trial/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Taiwan’s FSC Launches Bank-Led Crypto Custody Trial

CryptoTale

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