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Taiwan is all prepared to accept cryptocurrency and officially proposed a draft crypto act for reading.
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Once passed by Taiwan’s parliament, crypto platforms would be required to apply for the permit.
Cryptocurrency is emerging as a new normal in the world, expanding strong footprints in every industry, region, and sector, and Taiwan is no exception. Taiwan, a leading player in the manufacturing of computer components, found room to run in the crypto world. On October 27, the country’s legislative body officially proposed a draft crypto act for first reading. If passed, the effectiveness of the law can be observed by November 2023.
The Official Crypto Law
Taiwan has partially allowed digital assets and related services since July 2021. The country’s legislative body mandated Anti Money Laundering (AML) regulations for cryptocurrency whereas the remaining crypto industry remained unregulated. With time, Taiwan experienced a sign
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