Advertisement
AD

Main navigation

Advertisement
AD

Taiwan to Strengthen Cryptocurrency Regulations

Advertisement
Mon, 15/11/2021 - 14:40
Taiwan to Strengthen Cryptocurrency Regulations
Cover image via stock.adobe.com
Read U.TODAY on
Google News

The economic affairs ministry of Taiwan has created a regulatory framework for businesses related to the cryptocurrency industry or digital assets. 

Advertisement

In the last two years, companies working with cryptocurrencies, including trading and mining, have expanded significantly due to the massive and rapid growth of the industry in general.

Related

On Monday, the ministry decided to list all cryptocurrency-related businesses under the category of "finance, insurance and real estate" as "virtual currency platforms and trading businesses." Previously, all businesses related to digital assets were listed under the category of "software design services."

Advertisement

The change of the category leveled a significant amount of regulations on crypto-related companies that will now have to work under different policies and stricter regulatory oversight.

The main responsibility for the regulation will be in the Financial Supervisory Commission. The regulator will be responsible for taxation and controlling law departments that will develop a new set of rules for crypto-related companies.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD