TAIPEI, Taiwan—Taiwan’s Financial Supervisory Commission announced it will propose a new draft of digital asset regulations for the country in September 2024.
The upcoming draft bill will aim to create more effective regulations for digital asset markets and to assure the safety of investors, according to Huang Tien-mu, chairman of the FSC, CoinTelegraph reported.
Tien-mu cautioned investors of the potential fraud risks associated with digital currencies and warned that strict administrative penalties will be imposed on merchants trying to defraud investors, Cointelegraph said.
Huang further emphasized the growing interconnection between digital assets and the traditional financial system, where the former endangers the latter. The committee will also develop laws to protect the stability of the legacy financial system, from the risks of digital assets, Cointelegraph noted.
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