Public Hearing | Experts Offer Five Suggestions, FSC: As Long as Compliant, Companies Can Apply for IPO

On June 3rd, the Taiwan Financial Supervisory Commission convened a public hearing with Commissioner Luo Mingcai, inviting representatives from the Financial Supervisory Commission, major players in the Taiwan virtual currency industry, and relevant experts and scholars. During the meeting, experts presented five recommendations to the Financial Supervisory Commission, which also revealed that as long as companies comply with listing regulations, they can proceed with an IPO.

Commissioner Luo Mingcai commented that the progress of the special law is slow, and that there are only six dedicated personnel at the Financial Supervisory Commission. Discussions will be held on establishing a Virtual Asset Management Agency.

Experts Provide Five Special Legal Recommendations to the FSC

Amis Capital CEO Lin Kan-jun provided five special legal recommendations to the Financial Supervisory Commission (FSC):

1. Establishment of a Special Task Force: With the planning of special laws, it is hoped that a dedicated task force can be allocated to specifically plan and manage businesses. This can more efficiently address the needs and issues of the industry.
2. Information Security Standards: Current information security standards reference those of electronic payments and the securities industry, but the needs of the virtual currency industry are different. It is suggested that future complementary solutions clearly outline the information security standards for the virtual currency industry, referencing international standards such as the U.S. NIST, IEEE, and ISO, to ensure security.
3. Operating Margin System: It is recommended to introduce a system similar to the margin system in the travel industry in the special laws. This can utilize margins to provide protection when businesses face operational risks, safeguarding not only the businesses but also the interests of investors.
4. Lowering Regulatory Sandbox Thresholds: Taiwan has many excellent startup entrepreneurs, but the entry threshold for financial regulatory sandboxes is currently high. It is suggested to lower the regulatory sandbox thresholds, following the example of South Korea, to encourage innovative entrepreneurs to introduce business products that meet current demands, enabling them to quickly engage and achieve results.
5. Opening up IPO Opportunities: Businesses are facing difficulties in operations, and if there is an opportunity for IPO in the future, it will provide motivation for businesses to operate in compliance and pursue further development.

FSC: As Long as Compliance is Met, Applications for IPO Listings Are Welcome

Financial Supervisory Commission Securities and Futures Bureau Deputy Director General Gao Jing-ping responded that the above points will be taken into consideration when formulating special laws. As for the relaxation of certain sandbox aspects, which involves legislative amendments, assistance will be provided. In addition, regarding the matter of opening up IPO opportunities, Deputy Director General Gao Jing-ping stated that for stock listing applications, as long as they meet the conditions for listing, they can apply for listing through securities firms.

Although there were different opinions expressed during the meeting, regulatory authorities are still extending prevention as the basis. However, for businesses without restrictions on IPOs, this may reignite confidence for those who are interested.

Taiwan's largest digital asset innovation service provider, the MaiCoin Group, has signed a contract to initiate IPO planning.