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Taiwan intends to tighten the regulation of the Crypto-currency

The Central Bank of Taiwan is determined to consider new rules for regulating bitcoin’s participation in money laundering schemes.

During the meeting with representatives of Taiwan’s legislative branch, Yang Chin-Long, who is the head of the Central Bank,  reported  how the bank’s management will react to the current “opacity” around Bitcoin-trading in the country.

Yang Chin-Long noted that representatives of the Central Bank of Taiwan stepped up efforts to monitor the unstable price dynamics of the crypto currency. In addition, the Central Bank will continue to warn investors about the risks that carry with it the transactions of crypto-currencies.

The head of the Central Bank also said that the bank’s management recommends that the Ministry of Justice of Taiwan consider cases of bitcoin’s participation in laundering of illegally obtained funds in accordance with the current rules for combating money laundering. It is assumed that the Ministry will support the next initiative of the Taiwan authorities to resolve the important issue of the legality of the circulation of bitcoin inside the country.

Recall that earlier this month there was information that the Taiwan Finance Minister, Shu Yuyer, said that the crypto-currencies, which are considered as virtual goods, should be taxed – the authorities are already considering the possibilities of implementing this idea.

The post Taiwan intends to tighten the regulation of the Crypto-currency appeared first on Target Veb.



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