Taiwan is working on a Bill that may lead to the recognition of Bitcoin as legal tender.
The country is bolstering its footprint in the crypto ecosystem as shown in a recent IOTA collaboration.
In a recent development, Taiwan has officially announced its intention to recognize Bitcoin (BTC) as a legal tender. This bold move, the first of its kind in Asia, is set to have a profound impact on the global crypto market and is bound to spark conversations about the future of digital currencies in the region.
Taiwan Proposes Crypto Act
Taiwan, a nation known for its technological innovation and progressive outlook, is taking significant strides as it concerns crypto regulation. On October 27, Taiwan’s legislative body formally proposed a draft crypto act for discussion. If this draft is passed into law, it could take effect as soon as next year, ushering in a new era of regulatory clarity in the world of digital assets.
The proposed crypto act was approved at the first reading in Taiwan’

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