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š¹š¼ Taiwanese Banks to Start Storing Cryptocurrency in 2025
Taiwan is actively working on accelerating institutional adoption of cryptocurrencies, planning a pilot launch of storage services through local banks.
ā The countryās Financial Supervisory Commission (FSC) is preparing to begin accepting applications for these services in the first quarter of 2025.
Three private banks have already expressed interest in participating in the pilot project to store cryptocurrencies such as BTC, ETH, and DOGE.
ā”ļø Institutions applying must specify the types of assets they will store and describe their target audience, whether professional or regular investors. This step confirms the Taiwanese governmentās growing interest in the cryptocurrency industry.
#BTCā #taiwan
Taiwan is actively working on accelerating institutional adoption of cryptocurrencies, planning a pilot launch of storage services through local banks.
ā The countryās Financial Supervisory Commission (FSC) is preparing to begin accepting applications for these services in the first quarter of 2025.
Three private banks have already expressed interest in participating in the pilot project to store cryptocurrencies such as BTC, ETH, and DOGE.
ā”ļø Institutions applying must specify the types of assets they will store and describe their target audience, whether professional or regular investors. This step confirms the Taiwanese governmentās growing interest in the cryptocurrency industry.
#BTCā #taiwan
Daily CRYPTO NEWS recapšš„- 06.07.2024
ā¢Spot Bitcoin ETFs see record inflows after $BTC 's July 4 dip
After recently dropping to around $54K, Bitcoin has experienced massive inflows from spot ETFs, with a remarkable $143.1 million flowing into these financial products. Bitcoin's pullback is often seen as a great opportunity to accumulate this asset, leading to a "buy the dip" mentality that drove people to purchase a significant number of ETFs.
ā¢Taiwan Mobile receives VASP license and enters crypto arena
Taiwan Mobile, the second-largest telecommunications provider in the country, has obtained a virtual asset service provider (VASP) license from the Financial Supervisory Commission (FSC), according to local reports. This license paves the way for Taiwan Mobile to launch a cryptocurrency exchange. To secure the VASP license, the company had to comply with several Anti-Money Laundering (AML) requirements. Meeting these requirements makes the company eligible for membership, opening another source of inflows into the cryptocurrency market and strengthening the global position of digital assets.
ā¢Mt. Goxās $8.2 billion in Bitcoin ready for distribution, could it be sold entirely?
Most of the repaid Bitcoins from the defunct crypto exchange Mt. Gox could be market-sold, potentially causing additional downward pressure on BTC. Many analysts believe that these repayments are likely to be sold immediately at market price, as this is currently happening with most of the distributed coins. However, currently distributed only around 0,1%, so this assumptions are not fully accurate.
Stay tuned for more updates from MarMag! New posts coming soon :))
#NewsAboutCrypto #MtGoxJulyRepayments #BTCETFSPOT #taiwan
ā¢Spot Bitcoin ETFs see record inflows after $BTC 's July 4 dip
After recently dropping to around $54K, Bitcoin has experienced massive inflows from spot ETFs, with a remarkable $143.1 million flowing into these financial products. Bitcoin's pullback is often seen as a great opportunity to accumulate this asset, leading to a "buy the dip" mentality that drove people to purchase a significant number of ETFs.
ā¢Taiwan Mobile receives VASP license and enters crypto arena
Taiwan Mobile, the second-largest telecommunications provider in the country, has obtained a virtual asset service provider (VASP) license from the Financial Supervisory Commission (FSC), according to local reports. This license paves the way for Taiwan Mobile to launch a cryptocurrency exchange. To secure the VASP license, the company had to comply with several Anti-Money Laundering (AML) requirements. Meeting these requirements makes the company eligible for membership, opening another source of inflows into the cryptocurrency market and strengthening the global position of digital assets.
ā¢Mt. Goxās $8.2 billion in Bitcoin ready for distribution, could it be sold entirely?
Most of the repaid Bitcoins from the defunct crypto exchange Mt. Gox could be market-sold, potentially causing additional downward pressure on BTC. Many analysts believe that these repayments are likely to be sold immediately at market price, as this is currently happening with most of the distributed coins. However, currently distributed only around 0,1%, so this assumptions are not fully accurate.
Stay tuned for more updates from MarMag! New posts coming soon :))
#NewsAboutCrypto #MtGoxJulyRepayments #BTCETFSPOT #taiwan
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š„ Taiwan tightens rules for crypto companies!
From November 30, the Financial Supervisory Commission (FSC) introduces new requirements to combat money laundering (AML). Now crypto services are required to:
š Register officially.
ā Strengthen customer checks - KYC will become even stricter.
š Comply with strict operating rules.
Failure to comply? This is no joke! š
šø Fines up to NT$5 million ($153,700).
āļø Imprisonment for up to 2 years.
š” These measures are designed to increase confidence in the crypto industry and protect the market from illegal transactions. But how will this affect business? Share your opinion in the comments! š
#CryptoNews #Taiwan 2289953830#AML#Blockchain#CryptoCompliance#CryptoWorld #KYC #CryptoRegulation
From November 30, the Financial Supervisory Commission (FSC) introduces new requirements to combat money laundering (AML). Now crypto services are required to:
š Register officially.
ā Strengthen customer checks - KYC will become even stricter.
š Comply with strict operating rules.
Failure to comply? This is no joke! š
šø Fines up to NT$5 million ($153,700).
āļø Imprisonment for up to 2 years.
š” These measures are designed to increase confidence in the crypto industry and protect the market from illegal transactions. But how will this affect business? Share your opinion in the comments! š
#CryptoNews #Taiwan 2289953830#AML#Blockchain#CryptoCompliance#CryptoWorld #KYC #CryptoRegulation
Support for Taiwanās Independence and Crypto Freedom
Taiwan is a symbol of democracy and freedom in East Asia. Its unique identity and commitment to self-determination deserve international recognition and support. Taiwanās progressive stance on cryptocurrency, with supportive regulations fostering innovation, makes it a hub for digital currency development. Supporting Taiwan means endorsing a vibrant democracy that values both political and financial freedom. Stand with Taiwan for a future of independence and innovation.
#binance #btc #eth #taiwan
$BTC $ETH
Taiwan is a symbol of democracy and freedom in East Asia. Its unique identity and commitment to self-determination deserve international recognition and support. Taiwanās progressive stance on cryptocurrency, with supportive regulations fostering innovation, makes it a hub for digital currency development. Supporting Taiwan means endorsing a vibrant democracy that values both political and financial freedom. Stand with Taiwan for a future of independence and innovation.
#binance #btc #eth #taiwan
$BTC $ETH
#BTC š„ HUGE PUMP ALERT: THIS CRYPTO IS SET TO X100! š„
As the bull market heats up, you'll encounter headlines like this everywhere.Wallet holding crypto Punk #nft has just put out a rare NFT for sale . Time to grab an opportunity of lifetime INVEST now .
For 1000000 times the profit Check out open sea link #crytpo #boredape #BinanceACGroup tcoin #HongKong2024 ong #Chiness a #taiwan
https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac8c248420045cb7b5e/50583742210873805585630204209577995483162556409956990408969178081994272145409/
As the bull market heats up, you'll encounter headlines like this everywhere.Wallet holding crypto Punk #nft has just put out a rare NFT for sale . Time to grab an opportunity of lifetime INVEST now .
For 1000000 times the profit Check out open sea link #crytpo #boredape #BinanceACGroup tcoin #HongKong2024 ong #Chiness a #taiwan
https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac8c248420045cb7b5e/50583742210873805585630204209577995483162556409956990408969178081994272145409/