EddieJayonCrypto
5 Jul 24
Taiwan Mobile, the second largest telecom operator in Taiwan, has become the 26th virtual asset service provider (VASP) in the country, positioning itself to potentially launch a cryptocurrency exchange. The move signifies a significant step toward integrating digital assets into mainstream services...
Taiwan Mobile has become the 26th virtual asset service provider (VASP) in Taiwan, positioning itself for a potential cryptocurrency exchange launch. This move is a significant step in integrating digital assets into mainstream services. Taiwan's cryptocurrency sector is gaining momentum with regulatory measures and the potential for overseas Bitcoin ETF investment.
Taiwan Mobile's general manager led the application process, and the company may collaborate with local crypto platforms or invest in a crypto business. The Financial Supervisory Commission plans to submit revised digital asset rules in September, signaling an openness to crypto innovations within proper regulatory frameworks. Taiwan's efforts to regulate its cryptocurrency sector and enhance oversight through the Taiwan Virtual Asset Service Provider Association mark a resurgence in the country's cryptocurrency landscape.
The establishment of the Taiwan Virtual Asset Service Provider Association and the upcoming revised draft of digital asset rules by Taiwan's Financial Supervisory Commission reflect the country's commitment to regulating the cryptocurrency sector, combatting fraud, ensuring AML compliance, and exploring the potential for overseas Bitcoin ETF investment.