China Sets Up Crypto Regulatory Body
According to a Reuters report on Monday, March 20, Taiwan’s Financial Supervisory Commission (FSC) will take over all digital payments and transactions. This new step is being taken in response to the growing demand for digital asset regulation.
Huang Tien-mu, Chairman of the FSC, stated that the financial regulator would initially monitor digital payments and transactions. However, non-fungible tokens will be excluded from its regulatory operations. The latter is still in its early stages in the digital asset industry and will be subject to regulations over time. Furthermore, the official announcement is expected to be confirmed before the end of March.
(With inputs from Shikha Singh)
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