FSC Chairman announces plans to propose a special law on virtual currencies in September, could Taiwanese investors soon have access to a "Bitcoin ETF"?

Financial Supervisory Commission (FSC) Chairman Huang Tien-mu announced today important financial regulatory trends, including future regulatory policies on cryptocurrencies and warnings to investors. Further explanations were given on the prohibition of overseas Bitcoin ETF investments.

Taiwan prohibits the purchase of cryptocurrency-related securities through omnibus accounts, and Bitcoin spot futures ETFs are also under regulation.

Taiwan to Introduce Special Law on Virtual Currency in September

Huang Tianmu stated that the Financial Supervisory Commission (FSC) plans to propose a special law on virtual currencies in September this year. The purpose of this law is to better regulate the virtual currency market and ensure the safety of investors. In addition, Huang Tianmu also mentioned the issue of fraud using virtual currencies, indicating that strict administrative penalties will be imposed on domestic and overseas currency traders.

Enhancing Monitoring of Virtual Assets

The Chairperson of the FSC emphasized that the connection between virtual currencies and the traditional financial system is of high concern to the FSC. He mentioned that there will be more specialized legislation for virtual assets to ensure the stability and safety of the financial market.

Can Taiwanese Purchase Bitcoin ETFs? Research to be Released in April

Regarding the possibility of Taiwanese investing in overseas Bitcoin ETFs, Kao Ching-Ping, Deputy Director of the Securities and Futures Bureau, stated that the research results will be announced in April. This provides Taiwanese investors with more investment options and increases market diversity.

Warning on Overseas Virtual Currency Investments

Huang Tianmu issued a warning to investors, pointing out that investing in virtual currencies is full of risks and speculation. He reminded investors that the volatility of virtual assets is extremely high and lacks intrinsic value, so careful evaluation of risk tolerance is necessary before investing.

Current Status of the Domestic Virtual Currency Market

Currently, there are approximately 10 currency traders specializing in virtual currency trading in Taiwan. Huang Tianmu urged investors to avoid investing through unapproved overseas platforms to prevent falling into scams and to safeguard their funds.

View the warning list: https://3434.twsa.org.tw/

Future Regulatory Direction in Taiwan

Huang Tianmu further emphasized the FSC's regulatory position on the virtual currency market, including considering bringing Bitcoin spot ETFs under regulation. He clearly stated that virtual assets are unrelated to the real economy and warned that unapproved overseas investments may lead to more investment disputes and risks.

Through this statement, Chairperson Huang Tianmu demonstrated the FSC's strict regulatory attitude towards the virtual currency market and its determination to protect the interests of investors. With the gradual improvement of regulations and the strengthening of market supervision, Taiwan's virtual currency market will move towards a healthier and more stable development direction.