{"id":45930,"date":"2025-01-23T13:01:53","date_gmt":"2025-01-23T13:01:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/taiwan-fsc-to-introduce-draft-law-for-stablecoin-issuance-by-banks\/"},"modified":"2025-01-23T13:01:53","modified_gmt":"2025-01-23T13:01:53","slug":"taiwan-fsc-to-introduce-draft-law-for-stablecoin-issuance-by-banks","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/taiwan-fsc-to-introduce-draft-law-for-stablecoin-issuance-by-banks\/","title":{"rendered":"Taiwan FSC to Introduce Draft Law for Stablecoin Issuance by Banks"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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In order to enable local banks to issue stablecoins linked to the new Taiwan currency, the Taiwan Financial Supervisory Commission (FSC) intends to release a draft law in June 2025. The goal of this project is to encourage the usage of stablecoins in the financial ecosystem while developing a strong framework for virtual asset service providers (VASPs).<\/p>\n

Stablecoins to Bridge Fiat and Crypto<\/h2>\n

Chairman of the FSC, Peng Jinlong, highlighted the significance of stablecoins in bridging traditional fiat currencies and cryptocurrencies. He explained, \u201cStablecoins will be used as a bridge that connects the gap between fiat currencies and cryptocurrencies, making it easier for investors to access the crypto trading market.\u201d<\/em><\/p>\n

Unlike popular stablecoins such as Tether and USD Coin, which are pegged to the U.S. dollar, Taiwan\u2019s stablecoins will be tied to the new Taiwan dollar. Moreover, these locally-issued stablecoins will be managed in collaboration with Taiwan\u2019s central bank.<\/p>\n

However, Zhuang Xiuyuan, Director of Taiwan\u2019s central bank, criticized existing stablecoins like Tether and USD Coin, noting that they are not backed by government-issued guarantees. To ensure greater accountability, all Taiwan-based stablecoins must secure FSC approval before launch. Issuers will also need to meet specific criteria, including qualifications and token reserve allocations, as outlined in the forthcoming draft law.<\/p>\n

Taiwan has already begun implementing stricter rules for virtual asset service providers. The \u201cVASP Registration Regulations,\u201d which took effect in January 2025, impose stringent anti-money laundering measures<\/a> and require annual risk assessment reports from crypto exchanges, trading platforms, and custodians.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) In order to enable local banks to issue stablecoins linked to the new Taiwan currency, the Taiwan Financial Supervisory Commission (FSC) intends to release a draft law in June 2025. The goal of this project is to encourage the usage of stablecoins in the financial ecosystem […]<\/p>\n","protected":false},"author":34,"featured_media":45931,"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":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45930"}],"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\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=45930"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/45931"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=45930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=45930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=45930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}