Taiwan vows not to ban ICOs

Jason Hsu, a congressman from the Nationalist party of Taiwan and an advocate of digital market, asked the financial authorities of the country about regulating fintech during the parliamentary session. While the cryptocurrency market is strictly regulated in Japan, no Japanese authority branch is banning anything that might prove beneficial for the country’s wealth, explained Hsu, comparing the regulative approach of cryptocurrency in Japan to securities regulation.

In response, Taiwanese Financial Supervisory Commission leader, Wellington Koo, has stated that Taiwan is not going to copy Chinese and South Korean regulative measures towards initial coin offerings and cryptocurrency exchanges.

The media tells: these statements from Wellington Koo, who agreed with the opinion of Jason Hsu, will be followed by the passing of the fintech bill on financial technology innovation experimentation and that will allow fintech innovators to conduct experiments without fearing they somehow violate the law.