Taiwan: There is no Bitcoin Ban
Bitcoin has been “unbanned” in Taiwan. Well, that’s not exactly accurate. Sources are claiming that the digital currency was never banned in Taiwan in the first place, despite Central News Agency’s — one of Taiwan’s largest media outlets — recent report that the country’s Financial Supervisory Commission (FSC) labeled bitcoin and digital currencies “illegal.” The words are attributed to Tseng Ming-Chung, an FSC officer who during a legislative hearing, allegedly referred to digital currencies as “unlawful.” Tseng also pledged that the “FSC would work with the country’s central bank and....
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On 3/25/14, a Lamassu Bitcoin ATM was revealed in Taipei, Taiwan at the Gelateria Cosi o Cosi ice cream shop. The Gelateria is the first official place to spend Bitcoins in Taiwan and it is fitting that Taiwan's first Bitcoin ATM should end up there. The presence of this Bitcoin ATM flies in the face of Taiwanese government official Tseng Ming-Chung, who earlier this year said: ...it is impossible for a bitcoin ATM to come to or appear in Taiwan." Taiwan's first Lamassu Bitcoin ATM being prepped for its debut. Taiwanese Government Opposition To Bitcoin ATMs. At the beginning of 2014,....
While the global economy remains gloomy and the war in Ukraine continues, there’s been significant tension between China and Taiwan. The American representative from California, Nancy Pelosi, plans to visit Taiwan this week and White House officials say China is preparing to carry out “military provocations.” Moreover, during the last few weeks, reports note that the global economy could crater if there’s a Chinese military attack on Taiwan.
Nancy Pelosi Is Visiting Taiwanese President Tsai Ing-wen This Week Despite Taiwan’s Tensions With China
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PayPal, the world's primary method of online payment as just announced it was stopping online domestic payments in Taiwan. Today the online payment company issued a notice to its Taiwan customers announcing it was stopping domestic transactions in the Island. The company argued that this decision was made to comply with local laws and regulations. PayPal announcement stated: "Dear customers, We'll be streamlining our services in Taiwan, and our system will be enhanced to ensure that domestic commercial payments will not be processed, in compliance with local laws and regulations. These....
Yesterday, Robocoin's blog revealed that Bitcoin ATMs were to be revealed in Hong Kong and Taiwan by the end of the month as part of a global expansion program building on the success of the first Bitcoin ATM in Vancouver, Canada. In prompt response, the head of Taiwan's Financial Supervisory Commission (FSC) Tseng Ming-Chung [Pictured above] issued a statement essentially banning Bitcoin ATMs from appearing in Taiwan. For those that have been following Bitcoin news out of Asia, the FSC's prompt destruction of the Bitcoin ATM dream in Taiwan should not come as a surprise. Taiwan's Central....
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 […]