Taiwan Holds First Public Blockchain Hearing

Taiwan Holds First Public Blockchain Hearing

On April 26th, Taiwan held its first public hearing concerning blockchain technology and its relationship with money transmission, current regulations, and academic research. The meeting saw Government officials, blockchain promoters, and scholars gathering at the Taiwanese Legislative Council to discuss distributed ledgers and the economic implications they will bring. Taiwan Bankers Should Research Blockchain Technology ‘As Soon As Possible.’ During the meeting National Taiwan University Professor, and Department of Finance member, Kuan Chung-ming says blockchain technology will be a....


Related News

Microsoft Announces Asia’s ‘First Blockchain Consortium’ in Taiwan

Technology giant Microsoft has announced the formation of what it calls Asia’s “first and most advanced consortium blockchain network”, to use its Azure cloud platform, in Taiwan. With a focus on the Fintech sector wherein blockchain technology is primed to bring disruption to the banking industry, Microsoft has partnered with industry firm AMIS and the Technology Research Institute of Taiwan (ITRI) to form the new consortium. Additionally, Microsoft has also collaborated with a number of regional banks to push blockchain technology in the Taiwanese financial market. Partner banks include....

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....

European Parliament Holds Hearing on Digital Currency Regulation

A European Parliament committee held a public hearing on virtual currencies today in Brussels at which it discussed the possibility of regulating digital currencies following the recent Paris terrorist attacks. The hearing of the Committee on Economic and Monetary Affairs (ECON) was a preparatory measure for the agency's forthcoming report on virtual currencies. Topics discussed included the risks and challenges posed by publicly traded virtual currencies, as well as the impact of blockchain and distributed ledger technology on which virtual currencies are based. Panellists included....

Taiwan Declares Bitcoin an Illegal Asset

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,....

ASIC Design Firm Alchip to Debut on Taiwan Stock Exchange

Chip designer Alchip Technologies is to debut on the Taiwan Stock Exchange next Tuesday, 28th October. The Taiwan-based firm, which is known for its bitcoin-mining ASICs, is already a public company and is currently listed on the Taiwan Emergent Market under the stock ticker number 3661. Although the public offering will bring additional reporting requirements, the move will open the company up to institutional and private investors and also bring a boost to its profile within the industry. At a time when many bitcoin hardware manufacturers are struggling and facing numerous challenges,....