Is crypto trading legal in Taiwan?

The Financial Supervisory Commission (FSC) in Taiwan is diligently engaged in devising unambiguous regulations for the cryptocurrency market. Its aim is to promote transparency and safeguard investors' interests in this evolving sector.

Cryptocurrencies, despite not being recognized as legal tender in Taiwan, are permitted to be used as investment assets. This acknowledgment allows individuals and entities to engage in cryptocurrency trading, but under strict regulatory oversight.

The FSC's efforts are focused on ensuring that cryptocurrency transactions are conducted in a secure and compliant manner. This involves establishing clear rules governing the exchange of cryptocurrencies, as well as measures to prevent fraud and money laundering.

Among the key regulatory measures being implemented by the FSC is the requirement for cryptocurrency exchanges to obtain licenses and comply with stringent Know-Your-Customer (KYC) and Anti-Money Laundering (AML) protocols.

Additionally, the FSC is working towards enhancing investor education in the cryptocurrency space. This involves providing resources and guidance to help investors understand the risks involved in cryptocurrency trading and make informed decisions.