Taiwan Proposes Draft Bill to Enable Banks to Issue Stablecoins
Taiwan’s Financial Supervisory Commission (FSC) is preparing to unveil a draft bill in June to regulate virtual asset service providers (VASPs).
A key proposal allows banks, under FSC approval, to issue stablecoins, with management shared between banks and Taiwan’s central bank. The bill introduces stricter regulatory standards, including issuer qualifications and anti-money laundering measures, aiming to increase investor confidence in virtual assets. This move aligns with global trends, such as the U.S. push for stablecoin regulation through bills like the Lummis-Gillibrand Act, which mandates asset backing and federal licensing for issuers.
Clever Robot News Desk 25th January 2025
