Taiwanese lawmakers aim to submit a first draft cryptocurrency law by the end of November 2023, The Block reported.
Yung-Chang Chiang, an official from Taiwan’s Legislative Yuan, said in an interview that he intends to make the first draft available for reading by parliament by November, if not sooner. The objective is to be able to effectively regulate companies operating in the crypto sector.
Taiwanese lawmakers have expressed concern about activities in offshore markets, and would like to avoid so-called “regulatory arbitrage.” Chiang argues that crypto assets differ from traditional financial products, and should therefore be regulated through specific legislation.
