Taiwan will Issue Bill to Regulate ICO Sphere Next Year — Coinzdaily
The government of Taiwan announced its intention to publish a bill to regulate the scope of the initial coin offering (ICO) by June next year. The message was published in the Taipei Times on October 23.
The publication cited plans from Wellington Koo, the chairman of the Taiwan financial regulator, the Financial Supervision Commission (FSC), who spoke at a meeting of the Yuan Legislative Affairs Committee.
According to the publication, the published data is based on a statement from Wellington Koo, who is the chairman of the Taiwanese regulatory body – the Financial Supervision Commission (FSC). The statement was made during the meeting of the Legislative Yuan Finance Committee, held on October 22. Koo reported:
“The more we regulate, the more this new economic behavior wanes.”
It is worth noting that the ICO has long caused a lot of controversy and questions among international regulators. The problem is associated with a high level of fraud. The Chinese government has imposed a total ban on the launch and distribution of ICO. South Korea has also introduced a similar ban but is now considering the possibility of lifting the restrictions.
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