2024

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/taiwan-sets-september-2024-for-new-crypto-regulation-proposal">Taiwan Sets September 2024 for New Crypto Regulation Proposal</a><br></p>
<p style="text-align: justify"> Taiwan’s Financial Supervisory Commission (FSC) is preparing to introduce a new draft for cryptocurrency regulations by September 2024. FSC’s chairperson, Huang Tianmu, has announced that the primary goal of this initiative is to establish more robust oversight of the cryptocurrency market and to reinforce investor protections. Huang highlighted the escalating risks that cryptocurrency poses to traditional financial systems and stressed the need for measures to safeguard the <a href="https://en.bitcoinhaber.net/u-s-inflation-data-and-its-impact-on-bitcoin-prices">economy</a>‘s stability. </p> 
<h2 id="strengthening-investor-safeguards">Strengthening Investor Safeguards</h2> 
<p style="text-align: justify"> During a statement, Huang raised concerns about the potential for fraudulent activities within the crypto space and notified investors of severe administrative punishments for those attempting financial scams. Recent legislative efforts include the Crypto Asset Management Bill introduced to the Taiwanese parliament, which outlines comprehensive regulation of the industry, including significant fines for unlicensed operations. </p> 
<h2 id="regulating-exchange-traded-products">Regulating Exchange-Traded Products</h2> 
<p style="text-align: justify"> The Taiwan Chamber of Commerce is poised to release a study on <a href="https://en.bitcoinhaber.net/planb-predicts-bitcoins-path-will-defy-current-expectations">Bitcoin</a> exchange-traded funds (ETFs) in April, as discussions about incorporating spot Bitcoin ETFs into the regulatory framework continue. However, Taiwan maintains a cautious stance towards foreign crypto-based exchange products, warning investors to exercise discretion. In addition, the FSC enforces a ban on foreign crypto exchange companies operating in Taiwan without proper authorization, a policy which followed the creation of a self-regulatory crypto association by local exchanges. </p> 
<p style="text-align: justify"> These exchanges, including BitstreetX and Hoya Bit among others, have united to support the crypto industry and collaborate with regulatory bodies. Furthermore, in a landmark move, the FSC issued the nation’s first <a href="https://en.bitcoinhaber.net/lido-finance-addresses-serious-security-issue-discovered-by-dwallet-labs">security</a> token offering (STO) license to Cathay Securities in November 2023, allowing them to issue tokenized bonds biannually.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/taiwan-sets-september-2024-for-new-crypto-regulation-proposal">Taiwan Sets September 2024 for New Crypto Regulation Proposal</a></h5>

Taiwan Sets September 2024 for New Crypto Regulation Proposal

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