CryptoIntroduction to Taiwan’s November Cryptocurrency Encryption Regulations

Introduction to Taiwan’s November Cryptocurrency Encryption Regulations

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.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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