Taiwan’s Financial Supervisory Board (FSC) found out that it will announce a draft regulation on ICO (Initial Coin Offers) by June 2019.
There was a question and answer on ICO regulation at the Legislative Yuan Finance Committee meeting, and FSC Chair Wellington Koo (Mr. Kousuke Kuo) got clarified by remarks.
” We regulate it, the new economic activity will slow down, we will not hinder the creativity and productivity of the cryptocurrency. “
Taiwan accepts cryptocurrency and block chain technology, and there are many cryptocurrency exchanges such as COBINHOOD, BitoPro, and Bitrue.
Also, Mr. Tsai Li-ling of FSC Securities Department Foreign Currency explains the regulation of ICO as follows.
If ICO is similar to securities, the committee regards ICO as a security token and is subject to the Securities and Exchange Law.
In addition, it is necessary for companies conducting ICO to disclose the same information as listed companies.
It will be difficult to formulate ICO regulations without reference to regulations of other countries.
In addition, the mainland China prohibits cryptocurrency trading and ICO entirely.
Article Source: FSC says it is drafting ICO regulations
Author: NT 【Coin Desk News】 – Source Post: https://crypto-times.jp/taiwan-ico/
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