​Taiwan will pass laws to regulate digital assets Taiwan will | Altcoin Holder

​Taiwan will pass laws to regulate digital assets

Taiwan will adopt special legislation that will give the local Financial Supervisory Commission (FSC) a mandate to regulate cryptocurrencies. The information was confirmed by the head of the agency Huang Tenmu, writes Bloomberg.

Speaking to CoinDesk, XREX platform co-founder and CEO Wayne Huang welcomed the imminent arrival of regulatory clarity. He said industry players can join forces to help the FSC develop a set of rules.

Principles for the document are expected by June, with a draft bill in the coming months.

The impetus for the initiative may have come from the FTX collapse - locals were, in relative terms, the largest users of the platform.

The island had previously taken a neutral approach to digital assets, requiring crypto exchanges only to comply with AML rules.