Crypto Purchases Using Credit Cards To Be Banned In Taiwan Cr | Present Finance

Crypto Purchases Using Credit Cards To Be Banned In Taiwan

Cryptocurrency transactions using credit cards will no longer be allowed in Taiwan, as the island nation’s watchdog believes digital currencies are risky and speculative assets, local reports disclose.

In a letter sent to the banking industry association earlier this month, Taiwan’s Financial Supervisory Commission urged them not to extend “merchant status” to digital asset providers that support credit card holders.