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Taiwan financial regulator says will oversee crypto currencies

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Taiwan financial regulator says will oversee crypto currencies
Huang Tien-mu, chairman of Taiwan’s Financial Supervisory Commission, attends an interview with Reuters at his office in Taipei, Taiwan July 15, 2020. REUTERS/Ben Blanchard

By Emily Chan

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.

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