ChainCatcher news, according to The Block, Taiwan lawmakers hope to propose a draft special law on crypto assets for first reading before the end of November to prevent crypto regulatory arbitrage.

Jiang Yongchang, a member of the Taiwan Legislative Yuan, said that it is necessary to formulate a special crypto-asset bill to regulate crypto companies. The crypto-asset class is different from traditional financial products in many aspects and should be regulated by separate special laws.

In addition, Jiang Yongchang has held a public hearing at the Taiwan Regional Parliament today to discuss the draft proposal with virtual asset service providers, legal experts and academics.