TAIWAN AIM CRYPTOCURRENCY WITH TOKEN OFFERING SECURE AFTER SINGAPORE’S TACKLE

Taiwanese money related controllers are taking a page from the book of their Singaporean partners. On November 24, 2017, Wellington Koo, the administrator of Taiwan’s Financial Supervisory Commission, clarified that on digital money matters, the office will take after the lead of Singaporean controllers.

In August 2017, the Monetary Authority of Singapore discharged advanced resource direction, clearing up that computerized tokens assigned as securities under the Securities and Futures Act will have their offerings and issuance managed by the MAS. As indicated by Koo’s announcements, the FSC will form its lawful structure likewise.

The US Securities and Exchange Commission set the point of reference for understanding tokens as securities in July 2017 when it distributed a report presuming that tokens from The DAO qualify as securities. Be that as it may, not all tokens qualify as securities – there might be special cases already investigated the characterization of coins, tokens, and securities.

Koo likewise clarified Friday that Taiwan will send a FSC authority to talk about monetary supervisory issues at a private-division meeting in China. Budgetary controllers from Taiwan and China last met in 2015. While Taiwan shows up moderately well disposed toward blockchain and digital currency advancement, China has famously taboo token offerings (ICOs) and frustrated cryptographic money trades.