The News Lens
Date: 2017/10/06
By: David Green

Taiwan must be brave and embrace cryptocurrencies, and more importantly, the

Photo Credit: optimarc / Shutterstock / 達志影像

distributed ledger and blockchain technologies that underpin them.

Today, at a joint session of parliament and cabinet Kuomintang (KMT) congressman Jason Hsu will petition Taiwan’s Premier William Lai and the chair of Taiwan’s Financial Supervisory Commission (FSC) to take a firm stance on crypto regulation.

That stance should be an underlying statement in favor of forwarding the development of distributed ledger and blockchain technology. This represents the future of value exchange in all its forms, but the fear is that recent bans of crypto-related activity in China and South Korea will precipitate a knee-jerk reaction that will block the space’s development in Taiwan. While China has clamped down on cryptocurrency, the People’s Bank of China remains broadly in favor of developing blockchain technology, and has issued numerous statements suggesting it is developing its own blockchain-based digital currency. The two are distinguishable, albeit with a degree of difficulty.    [FULL  STORY]