{"id":45922,"date":"2025-01-23T11:51:40","date_gmt":"2025-01-23T11:51:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/taiwan-may-allow-local-banks-to-issue-stablecoins-tied-to-the-new-taiwan-dollar\/"},"modified":"2025-01-23T11:51:40","modified_gmt":"2025-01-23T11:51:40","slug":"taiwan-may-allow-local-banks-to-issue-stablecoins-tied-to-the-new-taiwan-dollar","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/taiwan-may-allow-local-banks-to-issue-stablecoins-tied-to-the-new-taiwan-dollar\/","title":{"rendered":"Taiwan may allow local banks to issue stablecoins tied to the new Taiwan dollar"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1671631561641-096479dc-4c7b-442e-911d-9c288205c478-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1671631561641-096479dc-4c7b-442e-911d-9c288205c478-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1671631561641-096479dc-4c7b-442e-911d-9c288205c478-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1671631561641-096479dc-4c7b-442e-911d-9c288205c478-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Taiwan banks may issue NTD-pegged stablecoins.<\/li>\n<li>FSC to propose a law in June 2025 for oversight.<\/li>\n<li>Stability and regulation will be key for crypto integration.<\/li>\n<\/ul>\n<p>In a groundbreaking move towards integrating cryptocurrency with traditional finance, Taiwan\u2019s Financial Supervisory Commission (FSC) is set to propose legislation that would enable local banks to issue <a href=\"https:\/\/coinjournal.net\/news\/tag\/stablecoins\/\">stablecoins<\/a> pegged to the New Taiwan Dollar (NTD).<\/p>\n<p>This draft law, expected to be introduced in June 2025, aims to bridge the divide between fiat and digital currencies, enhancing investor access to the burgeoning crypto market.<\/p>\n<p>According to <a href=\"https:\/\/money.udn.com\/money\/story\/5613\/8508618?from=edn_newest_index\">recent reports from Money UDN<\/a>, the FSC\u2019s initiative is part of a broader framework under the \u201cVASP Registration Regulations\u201d which came into effect in January 2025. This framework is designed to regulate virtual asset service providers, ensuring they meet stringent anti-money laundering protocols and submit regular risk assessments.<\/p>\n<p>The proposal for banks to issue stablecoins is seen as a pivotal step in this regulatory evolution, providing a more secure and regulated environment for cryptocurrency transactions.<\/p>\n<p>The FSC emphasizes that all stablecoins issued within Taiwan will be under the joint management of the central bank, ensuring their stability and legitimacy.<\/p>\n<p>Peng Jinlong, Chairman of the FSC, has highlighted the role of these stablecoins as a facilitator for investors, allowing them to move seamlessly between traditional and digital currencies.<\/p>\n<p>However, the central bank\u2019s Director, Zhuang Xiuyuan, has voiced concerns over existing stablecoins like Tether and USDC, criticizing their backing by non-government recognized assets. To address these issues, any new stablecoin in Taiwan will require explicit approval from the FSC, ensuring they meet specific qualifications regarding issuer credibility and reserve allocations.<\/p>\n<h2>Economic integration challenges<\/h2>\n<p>Despite the optimism surrounding the draft law, there are hurdles to overcome before stablecoins can be used for everyday transactions in Taiwan. Zhuang mentioned ongoing discussions regarding monetary policy and financial stability, indicating that the transition from a virtual to a \u201creal\u201d economy with stablecoins will be cautious and methodical.<\/p>\n<p>This legislative push by Taiwan not only marks a significant step in cryptocurrency adoption but also sets a precedent for how nations might regulate digital currencies in the future.<\/p>\n<p>As Taiwan navigates these waters, the world watches, potentially learning from its approach to integrating traditional banking with the new digital financial landscape.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/taiwan-may-allow-local-banks-to-issue-stablecoins-tied-to-the-new-taiwan-dollar\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Taiwan banks may issue NTD-pegged stablecoins. FSC to propose a law in June 2025 for oversight. Stability and regulation will be key for crypto integration. In a groundbreaking move towards integrating cryptocurrency with traditional finance, Taiwan\u2019s Financial Supervisory Commission (FSC) is [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":45923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45922"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=45922"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/45923"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=45922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=45922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=45922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}