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Taiwanese, Jason Hsu Suggests New Policy For Crypto Startups
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Taiwanese, Jason Hsu Suggests New Policy For Crypto Startups

Report coming in recently states that a Taiwan lawmaker is proposing to aid crypto startups. On Friday, Taiwanese legislator Jason Hsu proposed a list of policy recommendations aimed at supporting new cryptocurrency companies.

Hsu urged the Ministry of Economic Affairs to create a new business category for virtual coins and called for new guidelines for initial coin offerings to protect consumers. If passed into law, Hsu’s proposals would set in place regulations that are similar in part to existing anti-money laundering laws in the US and France, reports suggested, adding that the move could potentially support the growth of the blockchain technology and promote proper crypto business in Taiwan by helping the industry to be legitimate in the country.

Few days after the nation’s financial regulator announced it would set up ICO regulations on crypto startups, Hsu sought to seek the help of the nation’s finance committee in regulating the rules guiding issuance of ICO’s within the country, with the view to protect the interest of the consumers.

However, in a report published by Taipei Times, Last week, Wellington Koo, the Financial Supervisory Commission chairman reveals that the “national standards” for how ICOs should be conducted would be completed by June of next year.

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