Taiwan has officially proposed a new crypto bill that passed the first reading in Parliament. The bill would require crypto platforms that operate within the region to apply for a specified permit. Taiwan’s Financial Supervisory Commission (FSC) unveiled crypto guidelines last month, and the drafted crypto act passed the first reading at the Legislative Yuan, the parliament of Taiwan. The proposed legislation continues the global trend of digital asset regulation. The special crypto law has been proposed by Chang and 16 other lawmakers in the country, seeking to establish a framework for necessary permits, as well as consequences for failing to do so. A timeline has not been discussed for the bill’s eventual integration, and the second reading of the bill may not take place until January 2024.
This news is good news for the crypto industry. With the regulation of digital asset, it should provide a more secure and legal environment for users to invest in cryptocurrencies. #Taiwan #Crypto #Regulation #Parliament
You can read more about this topic here: Watcher Guru: Taiwan Proposes Crypto Bill That Passes First Parliament Reading