Taiwan Welcomes New Year with Bitcoin Warning
The Financial Supervisory Commission of the Republic of China and the Central Bank of the ROC have issued a joint statement warning against the use of bitcoin in Taiwan. The regulators said bitcoin remains volatile, that it does not have any legal protection, and that it is not issued by a monetary authority. The regulators noted that bitcoin trading is highly speculative and that investors should be wary of volatility, cyber attacks, malicious defaults, theft and other risks. Apart from the now more-or-less standard list of warnings and concerns, the regulators also announced that they....
Related News
In a perhaps not-so-surprising development, it is being reported that officials at the central bank of Taiwan and the Financial Supervisory Commission have issues a warning against the use of bitcoin in Taiwan. The move comes as a number of other nations have themselves issued warning on the use of the digital currency, but also includes that Taiwanese officials may be inclined to intervene in the digital currencies movement if financial institutions engage with bitcoin. It's unclear just what this means, but for now, it looks like the use of bitcoin to buy and sell goods and services in....
This Monday, the Taiwanese Financial Supervisory Commission (FSC) declared Bitcoin an illegal asset. Last year the Taiwanese central bank issued a warning stating that bitcoin was a highly speculative virtual asset and lacked a mechanism to protect its transactions. Now, claims of illegal activities being conducted with aid of the virtual currency were taken to court by the Taiwanese Financial Supervisory Commission. It all began when a Hong Kong tycoon was kidnapped and held hostage for more than a month by a gang in Taiwan. The gang was demanding a ransom to be paid in bitcoin. Today,....
Courtesy: blog.robocoinkiosk.com. With recent reports of Robocoin's bitcoin ATM expansion in Asia, the move to get bitcoin in the hands of more people seemed like a sure thing. Except for the fact that Taiwan reportedly doesn't want the bitcoin ATM in their country. The revelation comes mere days after Taiwan issued an anti-bitcoin sentiment, warning against the use of the digital currency and even going so far as to threaten intervention should the need arise. It's perhaps one of the most aggressive government takes on bitcoin, even over China (China allows the use of bitcoin at personal....
Taiwan's Financial Supervisory Commission (FSC) has stated it will prevent the installation of Robocoin bitcoin ATMs there, responding almost immediately to the company's plans to introduce machines in Taiwan and Hong Kong. Zeng Mingzong, FSC chairman, made the statement in an interview with the Central News Agency (CNA). According to an article published on CNA's website at 14:56 Taipei time today: bitquick. "Central Bank and FSC recently released a joint statement warning against bitcoin. According to the Central Bank, bitcoin is not a currency; financial institutions and the public....
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,....