Legislator Guo Guowen questioned the regulatory authority for cryptocurrencies, Financial Supervisory Commission (FSC) Chairman Huang Tien-mu responded: There will be a certain role, pending the decision of the Executive Yuan.

According to previous reports, Legislator Jason Hsu mentioned at the Fintech Trends Forum that the Executive Yuan will definitely establish the regulatory authority for virtual currencies in Taiwan before May 16, which could be either the Financial Supervisory Commission (emphasizing supervision) or the Department of Digital Development (assisting industry development). In today's meeting of the Legislative Yuan's Finance Committee, Legislator Guo Guo-wen once again raised related issues to the Chairman of the Financial Supervisory Commission, Huang Tien-mu.

According to previous reports, Legislator Tseng Ming-Chung stated at a financial technology trends forum that the Executive Yuan will inevitably designate the regulatory authority for virtual currencies in Taiwan by May 16th, which could be the Financial Supervisory Commission focusing on supervision or the Department of Digital Development assisting in industry development. In today's Legislative Yuan Finance Committee meeting, Legislator Kuo Kuo-Wen once again raised related issues to FSC Chairman Huang Tien-Mu.

Kuo mentioned that after consulting with Central Bank Governor Yang Chin-Long, Yang believed that virtual currencies should be regulated, leaning towards the FSC as the regulatory authority. In response, Huang stated that the Executive Yuan is currently making the final decision, in which the FSC will also be involved.

"Virtual currencies involve many aspects, some of which may not fall within the jurisdiction of the FSC, but the FSC will play a certain role," Huang said.

Furthermore, Kuo also inquired whether it is necessary to confirm if it is a franchise industry before regulating virtual currencies, as many financial businesses are considered franchise industries.

Huang mentioned that as long as it falls under the FSC's jurisdiction, albeit in varying proportions, it is essentially considered a franchise industry. Additionally, recent cases involving virtual assets in the past one or two years have led regulatory authorities in various countries to use more cautious standards in managing virtual asset operators.