Cryptocurrency

Guarantee

2024

April

<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-cryptocurrency-regulatory-framework-proposal">Taiwan Sets September 2024 for New Cryptocurrency Regulatory Framework Proposal</a><br></p>
<p style="text-align: justify"> Taiwan’s Financial Supervisory Commission (FSC) has signaled its intention to introduce a fresh proposal for cryptocurrency asset regulation in September 2024. The regulatory body, with FSC chairman Huang Tianmu at the helm, aims to bolster the crypto market’s regulations and enhance investor protection. Huang has expressed concerns over the growing integration of digital currencies with traditional <a href="https://en.bitcoinhaber.net/hedera-hashgraph-ignites-technological-advancement-in-saudi-arabia-with-250-million-partnership">finance</a>, highlighting the potential risks this poses. The FSC is committed to curbing fraud in the cryptocurrency space and is prepared to impose severe administrative penalties on any fraudulent activities. </p> 
<h2 id="strengthening-investor-safeguards-in-taiwan"> Strengthening Investor Safeguards in Taiwan </h2> 
<p style="text-align: justify"> Taiwanese parliament received the Crypto Asset Management Bill for consideration, a legislative effort designed to ensure robust regulatory oversight and investor protection within the cryptocurrency sector. Notably, the bill outlines substantial fines for Crypto Asset Service Providers operating without official authorization, reinforcing the regulatory environment. </p> 
<h2 id="cryptocurrency-exchange-oversight-in-taiwan"> Cryptocurrency Exchange Oversight in Taiwan </h2> 
<p style="text-align: justify"> April will see the release of a study from the Taiwan Chamber of Commerce Guarantee Bureau on <a href="https://en.bitcoinhaber.net/bitcoin-whales-on-the-move-surge-in-high-value-transactions-detected">Bitcoin</a> exchange-traded funds, indicating Taiwan’s increasing interest in incorporating Bitcoin-based financial products within its regulatory framework. However, the FSC’s stance remains firm against foreign crypto exchange operations without proper approval, a rule set in the wake of local exchanges banding together to form a self-regulatory body to promote industry standards and regulatory collaboration. </p> 
<p style="text-align: justify"> The FSC’s commitment to a regulated crypto environment was further evidenced by the issuance of the country’s inaugural <a href="https://en.bitcoinhaber.net/security-alert-for-binance-trust-wallet-as-potential-risks-arise">security</a> token offering (STO) license to Cathay Securities in late 2023. This move allowed Cathay to issue tokenized bonds, marking a milestone in Taiwan’s crypto regulatory journey. As Taiwan navigates the complex landscape of cryptocurrency regulation, the anticipated proposal in September 2024 marks a significant step towards clarity and stability in the market.</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-cryptocurrency-regulatory-framework-proposal">Taiwan Sets September 2024 for New Cryptocurrency Regulatory Framework Proposal</a></h5>

Taiwan Sets September 2024 for New Cryptocurrency Regulatory Framework Proposal

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