New chapter in crypto regulation? Taiwan and El Salvador join forces


19 Sep 2023 9:00 AM

Taiwan and El Salvador join forces to bolster cryptocurrency regulation and create a comprehensive and secure framework....

  • The Taiwan Crypto Association is collaborating with key institutions in El Salvador to strengthen cryptocurrency regulations.
  • Taiwan aims to enhance its own crypto regulations, particularly in areas such as stablecoin issuance and cryptocurrency derivatives trading.
  • Discussions in Taiwan have included the potential introduction of leveraged derivatives trading and the establishment of a dedicated Financial Technology Bureau.
  • Taiwan intends to unveil its Virtual Asset Service Providers (VASP) guidelines by the end of September.
  • The Financial Supervisory Commission (FSC) will monitor digital currencies, combat money laundering, and ensure compliance with regulations.
  • Taiwan's approach to crypto regulation has shifted from a hands-off approach to a comprehensive regulatory framework.

The article highlights Taiwan's efforts to strengthen cryptocurrency regulations and align with El Salvador. The sentiment is positive as it emphasizes the commitment to effective control over the crypto sector through a comprehensive regulatory framework.

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You May Ask

What is the aim of the collaboration between Taiwan and El Salvador?What areas of crypto regulation is Taiwan seeking to enhance?Which institutions in El Salvador did the Taiwan Crypto Association initiate communication with?What role will the Virtual Assets Bureau play in Taiwan's crypto regulation?When does Taiwan plan to unveil its Virtual Asset Service Providers (VASP) guidelines?

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