The Taiwanese authorities will present rules for regulating cryptocurrencies by September

The chairman of the Taiwan Financial Supervision Commission (FSC), Huang Tianzhu, is concerned about the increase in cases of cryptocurrency fraud. He warned that in case of non-compliance with the rules, strict administrative penalties will be applied to crypto exchanges and platforms for trading foreign currencies. Tianzhu stressed that digital assets are not connected to the real economy, while they carry risks associated with unregulated foreign investments.

Nevertheless, the chairman of the FSC stressed the agency's interest in establishing close links between digital assets and the traditional financial system. Therefore, additional laws are needed for crypto companies to ensure the stability and security of financial markets. Tianzhu advised investors to avoid unregulated international platforms for working with cryptocurrencies in order to protect themselves from scammers and not lose their investments.

Gao Jingping, Deputy director of the Securities and Futures Commission of Taiwan, said that the authorities are also exploring the possibility of interaction between Taiwanese investors and foreign ETFs for bitcoin. The results of these studies will be presented in April. In the future, this may expand the investment opportunities of local investors, Jinping added. Taiwanese regulators began exploring the possibility of launching cryptocurrency ETFs at the end of last year in order to track the development trend of these investment products in other countries.

Source: https://bits.media/vlasti-tayvanya-predstavyat-pravila-regulirovaniya-kriptovalyut-k-sentyabryu/