TAIPEI (Reuters) – Taiwan’s Financial Supervisory Commission will be the main overseer of crypto currencies on the island, the head of the regulator said on Monday.
Huang Tien-mu told lawmakers in parliament that the Financial Supervisory Commission will initially be responsible for the supervision of payments and transactions, but will not cover NFTs, or “non-fungible tokens”.
Huang said he will discuss the details with other government departments as well as “self-discipline norms” with relevant industries.
Details will be announced after consultations with the cabinet, he added.
(Reporting by Emily Chan; Writing by Ben Blanchard; Editing by Himani Sarkar)
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Source: The Print
