Is Trump’s Meme Coin Illegal? Financial Supervisory Commission: Not Applicable Under Current Taiwanese Regulations
On January 22, the Financial Supervisory Commission (FSC) held a New Year press conference, presided over by Chairman Peng Jinlong. When reporters inquired about the legal implications of the Trump meme coin (TRUMP) and Melania meme coin (Melania), which many Taiwanese people are participating in for investment and trading, the Securities and Futures Bureau, responsible for regulating virtual currencies, also responded.
Are Trump meme coins illegal? FSC finds it difficult to intervene.
Zhang Zhenshan, Director of the Securities and Futures Bureau, stated that cryptocurrencies such as the Trump meme coin (TRUMP) are actions of specific individuals and are not marketed or advertised in Taiwan; therefore, they are not subject to current Taiwanese regulations. He also mentioned that it is currently challenging for Taiwan’s regulatory authorities to intervene in cryptocurrencies issued by foreign individuals or communities.
Recommendations for meme coins
The author believes that a clear regulatory framework should be established for managing Trump coins and similar situations: for cryptocurrencies issued abroad but with potential impact in Taiwan, research should be conducted to create a regulatory framework that meets the needs of the Taiwanese market; and international cooperation should be promoted, referencing the management experiences of other countries regarding similar digital assets.
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and their prices may fluctuate dramatically, potentially resulting in the loss of all principal. Please assess risks carefully.
