Taiwan Tightens Crypto Regulations, Considers Spot Bitcoin ETFs
Taiwan’s monetary regulator, the Monetary Supervisory Fee (FSC), is taking a two-pronged strategy to cryptocurrencies.
Taiwan’s monetary regulator, the Monetary Supervisory Fee (FSC), is taking a two-pronged strategy to cryptocurrencies: stricter rules and potential approval for spot Bitcoin exchange-traded funds (ETFs).
Nevertheless, Taiwan is not solely specializing in tightening the reins. The Chamber of Commerce is releasing a examine on spot Bitcoin ETFs in April, suggesting a possible future for these funding merchandise inside the nation’s regulated framework. Whereas welcoming the opportunity of home spot Bitcoin ETFs, the FSC advises warning in opposition to investing in international crypto-based merchandise attributable to regulatory uncertainties.
Taiwan’s dedication to fostering a accountable crypto surroundings is additional evidenced by rules applied in September 2023. These rules require international cryptocurrency service suppliers to acquire approval earlier than working inside the nation and had been established in collaboration with a newly shaped self-regulatory affiliation of main Taiwanese crypto exchanges.
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