The regulators in taiwan provide regulations for the Bitcoin by November 2018

The minister of Justice of taiwan said that the country provided for the establishment of a regulatory framework for the crypto-currency by November 2018. He has made these statements during a recent conference related to the fight against money laundering.

If you missed this announcement, here are the details in English :

Establishment of a regulatory framework for crypto-currencies before 2019

Senior taiwan officials have confirmed that the country had the intention to develop and introduce a legislative framework for digital currencies by the end of the year. The announcement was made by the minister of Justice of Taiwan, Qiu Taisan, at a conference on the prevention of money laundering in the financial services sector. This event was organized by the Taiwan Finacial Services Coalition.

Source : Pixabay. Taiwan stipulates regulations on the Bitcoin by the end of the year.

The minister of Justice has indicated that the crypto-currency and the Bitcoin are today at the centre of all the discussions in many countries. Mr. Taisan has also revealed that the financial control committee of the country (FSC) will be responsible for developing a regulating device for crypto-currencies to Taiwan. She will work with the ministry of the Interior and the central Bank.

Money laundering, a topic that is of concern to the country

During this event, Gu Lixiong, president of the FSC, explained that the regulation of crypto-currencies will be essential to limit the risks of money laundering in the country. He cited in particular the anonymous nature of virtual currency. On April 10, the ministry of Justice has already invited representatives of the two companies exchange of crypto-currency local to provide information regarding the operational process of the trade of digital currency.

Yu Wanju, a member of the progressive Party democratic party of Yuan, has posted his comments on Facebook. He has requested clarification from the FSC on its position relative to the Bitcoin and other crypto-currencies.

Source : NewsBitcoin