TechFlow news: On January 23, according to the Economic Daily News, Taiwan's Financial Supervisory Commission (FSC) plans to propose a dedicated bill for Virtual Asset Service Providers (VASPs) by June 2025, which would for the first time allow banks to issue stablecoins.
FSC Chairman Joseph Peng stated that stablecoins will serve as a bridge between fiat currency and virtual assets, providing investors with an entry point for trading. All stablecoins issued in Taiwan must be approved by the FSC, including requirements regarding issuer qualifications and reserve holdings. This policy will be coordinated with the central bank to clarify distinctions from CBDCs and assess stablecoin applications within the real economy.
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