Taiwan to Release Virtual Asset Business Guidelines by End of This Month

According to Taiwan's Central News Agency, the Financial Supervisory Commission (FSC) of Taiwan has held a public hearing with industry participants and is expected to officially release the "Guidelines for Managing Virtual Asset Platform and Trading Business (VASP)" by the end of this month.

These guidelines will cover ten major aspects, including strengthening the management of virtual asset issuance, establishing a review mechanism for virtual asset listing and delisting, and enhancing the separation custody of platform and customer assets. In addition, the FSC will further develop self-regulatory norms in collaboration with industry associations.

Topics discussed during the meeting included whether to establish a specialized unit, the "Financial Technology Bureau," for regulatory purposes, and whether Taiwan should open leveraged derivative trading, among others. Representatives from Binance and Bitfinex attended the meeting, with the Binance representative providing insights into anti-money laundering practices and regulatory examples from other countries.

Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!

Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!

If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com