[2018-04-29] Taiwanese Bitcoin Regulations Expected by November 2018

[tyz]

Taiwanese Bitcoin Regulations Expected by November 2018

Taiwan’s Minister of Justice has indicated that the country is anticipating to have implemented a regulatory apparatus for cryptocurrencies by November 2018. The Minister made comments revealing the expected deadline during a recent anti-money laundering conference.

https://news.bitcoin.com/taiwanese-bitcoin-regulations-expected-november-2018/

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[Notcalculator]

Interesting how taiwan takes an opposite stance from china..
I do think this regulation is necessary though. If they dont put some kind of regulation on btc, money laundering would be impossible to stop. Especially since its price is gaining momentum, it's becoming the perfect tool for laundering. If this works, maybe other governments would be more lenient on welcoming bitcoin.

[dE_logics]

Interesting how taiwan takes an opposite stance from china..
I do think this regulation is necessary though. If they dont put some kind of regulation on btc, money laundering would be impossible to stop. Especially since its price is gaining momentum, it's becoming the perfect tool for laundering. If this works, maybe other governments would be more lenient on welcoming bitcoin.

Why the obsession with money laundering? If something is illegal, why not stop the illegal act instead of prostituting the currency as a Big Brother crime-fighting tool?

[Notcalculator]

Interesting how taiwan takes an opposite stance from china..
I do think this regulation is necessary though. If they dont put some kind of regulation on btc, money laundering would be impossible to stop. Especially since its price is gaining momentum, it's becoming the perfect tool for laundering. If this works, maybe other governments would be more lenient on welcoming bitcoin.

Why the obsession with money laundering? If something is illegal, why not stop the illegal act instead of prostituting the currency as a Big Brother crime-fighting tool?

This is how money laundering is stopped. You do it by flagging suspicious transactions. There are still lots of ways you could maintain your anonymity because in the end of the day they're not really regulating crypto they're regulating fiat. That's why it's a bank level regulation.

[Kemarit]

Interesting how taiwan takes an opposite stance from china..
I do think this regulation is necessary though. If they dont put some kind of regulation on btc, money laundering would be impossible to stop. Especially since its price is gaining momentum, it's becoming the perfect tool for laundering. If this works, maybe other governments would be more lenient on welcoming bitcoin.

LOL. Don't be surprised dude. We all know that the relationship of this 2 countries are really sour from the beginning because of geo-politics (China thinks that Taiwan is their province). So it makes sense that Taiwan will not follow anything that the Mainland will do because they are a sovereign nation (and not a province). That's why Taiwan is one of  the friendliest nation in Asia with Bitcoin ATM (if I'm not mistaken). So as far as regulations, yeah its fine as long as government and people can work together then its a win-win situation for us crypto enthusiast specially our Taiwanese community.

[Notcalculator]

Interesting how taiwan takes an opposite stance from china..
I do think this regulation is necessary though. If they dont put some kind of regulation on btc, money laundering would be impossible to stop. Especially since its price is gaining momentum, it's becoming the perfect tool for laundering. If this works, maybe other governments would be more lenient on welcoming bitcoin.

LOL. Don't be surprised dude. We all know that the relationship of this 2 countries are really sour from the beginning because of geo-politics (China thinks that Taiwan is their province). So it makes sense that Taiwan will not follow anything that the Mainland will do because they are a sovereign nation (and not a province). That's why Taiwan is one of  the friendliest nation in Asia with Bitcoin ATM (if I'm not mistaken). So as far as regulations, yeah its fine as long as government and people can work together then its a win-win situation for us crypto enthusiast specially our Taiwanese community.

I guess you're right. Opposing laws is one way of throwing shade . And yes they do have an atm machine. Last time i checked there was only one but that was a few months back. Them acknowledging bitcoin though means they're expecting it to be more popular soon.