The Financial Supervisory Commission has been designated by the administrative authority of Taiwan as the regulatory agency for virtual currencies

ChainCatcher news, according to the United Daily News, the administrative agency of the Taiwan region has designated the Financial Supervisory Commission (FSC) as the regulatory authority for virtual currencies.

FSC Chairman Huang Tien-Mu revealed that the executive department has instructed the FSC to conduct research on "the establishment of a new Financial Technology Bureau as the fifth department of the FSC," and internal evaluations are currently underway, with initial studies focusing on the benefits of adding a fixed department for the development of the financial industry.