TechFlow news: Taiwan's administrative body has designated the Financial Supervisory Commission (FSC) as the regulatory authority for virtual currencies. Legislators have suggested that, in response to investor protection needs regarding investments in virtual currencies and other emerging fintech areas, the FSC should establish a fifth bureau—the Financial Technology Bureau.
FSC Chairperson Huang Tien-mu stated that the administrative body has indeed instructed the FSC to conduct research on this matter, and the commission is currently conducting internal evaluations. The first step involves studying the benefits of establishing a dedicated bureau for financial industry development, and within the staffing quota approved by the administrative body, the FSC may attempt to take on new responsibilities.
