Taiwan’s sandbox bill commanded bipartisan support but achieving it was no easy task.

The News Lens
Date: 2018/01/08
By: David Green

After a year that saw Taiwan’s parliament deeply divided on issues including pension

Photo Credit: 余宛如

reform, labor rights and transitional justice, 2017 ended on a rare note of unity in Taiwan’s parliament. On Dec. 29, the Legislative Yuan voted to pass the final reading of the Financial Technology Innovation Experimentation Act, with the bill commanding cross-party support.

The Act offers the most innovative companies in the fintech space the chance to experiment in a regulatory “sandbox” for up to three years without falling foul of existing laws or regulations. Since discussions on its composition began, it has been viewed as a key indicator of Taiwan’s willingness to embrace a more flexible regulatory approach, and has been championed as a means of both attracting international talent and providing graduates with the inspiration and opportunity to remain in Taiwan.

The News Lens sat down with Democratic Progressive Party (DPP) legislator Karen Yu (余宛如), who as a member of the Finance Committee was in large part responsible for initiating and supporting the bill, to talk about conflicts over credit for the bill, its origins and wider efforts to promote Taiwan’s innovation economy.    [FULL  STORY]