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<p><em><strong>The Financial Supervisory Commission (FSC) plans to introduce new regulations for digital assets in Taiwan by September 2024.</strong></em></p><h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><p>The proposed draft bill aims to improve regulations in digital asset markets and ensure the safety of investors. Huang Tien-mu, the chairman of the FSC, provided this information in a news <a href="https://udn.com/news/story/123006/7807277" rel="noopener noreferrer nofollow">report</a> by UDN on March 4.</p><h3 id="strengthening-regulations-for-digital-assets-in-taiwan">Strengthening Regulations for Digital Assets in Taiwan</h3><p>In a recent speech, Huang highlighted the potential fraud risks associated with digital currencies and warned of strict penalties for merchants engaging in fraudulent activities. He emphasized the increasing interconnection between digital assets and the traditional financial system, underscoring the need to protect the stability of the legacy financial system from the risks posed by digital assets.</p><p>To address these concerns, Taiwanese legislators introduced the <a href="https://cryptosheadlines.com/okx-launches-updated-app-for-virtual-asset-spot-trading-in-hong-kong/" rel="noopener noreferrer nofollow">Virtual Asset</a> Management Bill to the unicameral parliament on Oct. 25. The bill aims to <a href="https://cryptosheadlines.com/okx-cryptocurrency-exchange-enhances-customer-security-with-advanced-proof-of-reserves-technology/" rel="noopener noreferrer nofollow">enhance customer</a> protection and supervise the industry more effectively. Additionally, it proposes imposing fines ranging from two million to 20 million Taiwanese dollars (approximately $60,000 to $600,000) on unlicensed virtual asset service providers (VASPs).</p><h3 id="taiwan-s-regulatory-developments-in-cryptocurrency">Taiwan’s Regulatory Developments in Cryptocurrency</h3><p>The Chamber of Commerce in Taiwan is set to release a study on Bitcoin exchange-traded funds (ETFs) in April, as announced by Gao Jingping, the deputy director of the Warranty Bureau. The study aims to provide insights into the implications of <a href="https://cryptosheadlines.com/blackrocks-rumored-bitcoin-etf-sparks-god-candle-market-talk/" rel="noopener noreferrer nofollow">Bitcoin ETFs for the market</a>.</p><p>Huang Tien-mu, chairman of Taiwan’s Financial Supervisory Commission (FSC), mentioned that Taiwan is contemplating the <a href="https://cryptosheadlines.com/sec-accepts-spot-bitcoin-etf-from-valkyrie/" rel="noopener noreferrer nofollow">acceptance of spot Bitcoin ETFs</a> within its regulatory framework. However, he advised caution to investors regarding foreign crypto-based exchange-traded products, highlighting potential risks.</p><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><p>The FSC has implemented <a href="https://cryptosheadlines.com/australian-financial-regulator-sues-kraken-service-provider/" rel="noopener noreferrer nofollow">regulations prohibiting foreign Virtual Asset Service Providers</a> (VASPs) from operating in Taiwan without obtaining approval from the regulator. These rules were established following the formation of a self-regulatory association by major <a href="https://cryptosheadlines.com/gemini-a-cryptocurrency-exchange-is-set-to-introduce-a-derivatives-platform-in-international-markets-outside-of-the-united-states/" rel="noopener noreferrer nofollow">cryptocurrency exchanges</a> in the country on Sept. 26, 2023. <strong>Exchanges such as BitstreetX, Hoya Bit, Bitgin, Rybit, Xrex, and Shangbito united to support the crypto industry and collaborate with regulators.</strong></p><p><a href="https://cryptosheadlines.com/german-vc-firm-ceo-predicts-ripples-xrp-will-become-global-currency/" rel="noopener noreferrer nofollow">Also Read:   German VC Firm CEO Predicts Ripple’s XRP Will Become Global Currency</a></p><p>Moreover, Taiwan’s FSC granted the country’s inaugural security token offering license to Cathay Securities on Nov. 9, 2023. This license allows Cathay Securities to issue tokenized <a href="https://cryptosheadlines.com/polygons-innovation-boosts-e5-million-green-bond-success-for-abn-amro/" rel="noopener noreferrer nofollow">green bonds</a> worth $930,000 every six months. This move represents Taiwan’s commitment to fostering innovation in the cryptocurrency sector while ensuring regulatory compliance and investor protection.</p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

Taiwan’s New Digital Currency Laws: September Introduction

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