Tightened Regulations on Virtual Currency in Taiwan, FSC Chairman Huang Tien-mu: Special Legislation Expected in September

Financial Supervisory Commission (FSC) Chairman, Huang Tien-mu, stated on the 30th that Taiwan may not be a pioneer in virtual asset management, but it is adopting a gradual approach. Huang mentioned that Taiwan’s progress, from anti-money laundering measures to the establishment of regulatory principles, as well as assisting industry players in forming associations, is in line with international standards. Although his term will end on May 19th, Huang noted that the exact implementation time for the special law cannot be predicted, but external experts have already been commissioned to study the feasibility of the virtual asset law, with results expected in September.