Taiwan’s FSC announced a much-anticipated set of guidelines on September 26 for VASPs, emphasizing increased oversight and customer protections.
Taiwan’s financial regulator is set to issue 10 guidelines for the industry, including requiring segregation of customer funds and enhanced AML programs.
The Financial Supervisory Commission will reportedly be appointed as the industry watchdog in Taiwan this month, but the chairman says NFTs are too diverse to regulate under financial guidelines.
Expected to take effect in November, Taiwan's latest policy mandates public servants to declare their digital asset holdings exceeding $32,900 or risk being penalized.
Amid political turmoil with China, Taiwan is harnessing the power of Web 3.0, spearheaded by the new Digital Affairs Ministry, to deal with potential threats to its cyberspace caused by tensions.
The FSC revealed that it had issued a letter to the Bankers Association of the Republic of China, which directed credit card issuers to stop onboarding digital assets platforms as merchants.
According to Business Insider, XREX sent out a notice to users on June 30 directing them to withdraw their INR balances two days before the 1% TDS kicked in on July 1.
As revealed by Chin-long, the central bank is exploring how to scale the system's operational performance and the feasibility of offline payment options to boost the resilience of the CBDC.
The suspects were accused of using misleading information and photos of beautiful women to lure mostly older and retired men to their scam, Taiwanese authorities said.
The Taiwan New Taipei District Prosecutors Office is reported to have carried out inspections at seven office locations in Taiwan of companies linked to Bitmain.
First Digital Trust has raised $3 million from a Taiwanese venture capital firm to build its rapid settlement and clearing network which launches in May.