Taiwan Greenlights Traditional Banks to Offer Crypto Trading Services: Regulations to be Out by September
Taiwan's Financial Supervisory Commission (FSC) has announced that traditional banks in the island nation will be allowed to offer crypto trading services, as per the "Banking Industry Trading Crypto" regulations to be released by the end of Q3 2023. The FSC clarified that for a trading platform to conduct business in Taiwan, it must be managed by the FSC. Meanwhile, the commission is proceeding cautiously and has not considered the possibility of domestic exchanges going public yet. East Asia seems to be positioning itself as the hub of the crypto world with Hong Kong set to release its crypto exchange licensing guidelines in May 2023.