Legislators in Taiwan aim to propose a special law on cryptocurrency assets by the end of November to prevent regulatory arbitrage in the crypto space

ChainCatcher news, according to The Block, legislators in Taiwan hope to propose a special law draft on crypto assets for a first reading before the end of November to prevent regulatory arbitrage in crypto.

Taiwanese legislator Chiang Yong-chang stated that it is necessary to formulate a dedicated crypto asset law to regulate crypto companies, as the category of crypto assets differs from traditional financial products in many ways and should be governed by a separate special law.

In addition, Chiang Yong-chang held a public hearing today in the Taiwanese parliament to discuss the draft proposal with virtual asset service providers, legal experts, and scholars.