Taiwan’s Ministry of Economic Affairs has clarified the status of businesses in the crypto money sector and which institution will be audited.
According to the China Times, after the cabinet meeting on Monday, crypto companies will be under the umbrella of “finance, insurance and real estate”. “virtual money platforms and trading businesses” It was decided to list it as
The Financial Supervisory Commission will be primarily responsible for the regulations that will be brought to the local cryptocurrency sector. There was uncertainty about which institution would be considered the authority on crypto money in Taiwan.
Regulations to be implemented with the cooperation of different institutions crime prevention and protection of investors is intended.
Blockchain-based tokens offered as securities will be in the same category as securities firms and will be subject to the same rules as these firms.
Image: Taipei, Thomas Tucker/Unsplash, image modified by Koin Bulletin
