According to the Economic Daily, Peng Jinlong, chairman of the Taiwan Financial Supervisory Commission, announced that the draft virtual asset law will be sent to the Executive Yuan before June next year. This means that virtual currencies including Bitcoin will definitely be regulated by special laws. For traditional financial institutions, virtual assets must be legalized, and those who do not want to miss out on market opportunities have already taken active action.
Yang Yueping, associate professor at the National Taiwan University College of Law, said that the Financial Supervisory Commission’s decision to enact a special law on virtual assets should also simultaneously allow traditional financial institutions to invest in virtual asset businesses. After all, traditional financial investment is good for the development of the virtual asset industry. From the perspective of the Financial Supervisory Commission, there are people in this industry who are more familiar with legal compliance and can also help to align with legal compliance.
