By: Chen Chun-hwa, Lee Mei-yu, Central News Agency
Bitcoin is illegal in Taiwan, said Financial Supervisory Commission (FSC) Chairman Tseng
Ming-chung on Monday after kidnappers in Taiwan tried to collect a ransom through the virtual currency late last month.
Asked at a legislative hearing if the virtual currency can be used in Taiwan, Tseng said it was illegal and pledged that the FSC would work with the country’s central bank and police to crack down any illegal act.
The FSC will also publish a statement jointly with the central bank to inform other countries of such regulations, he said. [FULL STORY]