Taiwan’s Crypto Drama: New Rules, New Problems? 🎭💰

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So, the Financial Supervisory Commission (FSC) decided to throw their hat into the crypto ring with their shiny new “Virtual Asset Service Act”. 🎩 Not to be outdone, lawmaker Huang Shan-shan also dropped her own version like it’s hot. 🔥 Both are basically saying, “Hey, crypto platforms, you want to play in Taiwan? You’re gonna need a license for that”. It’s like a VIP club, but with way more paperwork.

Huang’s act is ready for its close-up, aiming for a first reading soon, with a grand finale planned by the end of2025. Meanwhile, the FSC is all ears, taking public feedback until May24, before they hand it over to Taiwan’s cabinet for a little review sesh in June. 📆

But here’s the kicker: while everyone’s cheering for regulation, some are like, “Whoa, hold up. This might just kick the little guys to the curb”. Industry experts are waving the red flag, suggesting that maybe, just maybe, we shouldn’t have a one-size-fits-all approach. 🚩 A tiered system could be the hero we need, ensuring the little fish don’t get swallowed by the big compliance sharks.

After a swing and a miss in2023, Taiwan is back at the plate, swinging for the fences with this regulation push. The goal? To make crypto businesses as legit as your grandma’s secret recipe. But, let’s be real, it might make it tough for the smaller fry to keep flipping those digital pancakes. Still, investors might just end up with a trading environment smoother than a buttered biscuit. 🥞💼

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2025-04-01 15:40