Taiwan's "Financial Supervisory Commission" plans to propose a special law draft for virtual currencies in September

ChainCatcher news, according to the United Daily News, Taiwan's Financial Supervisory Commission Chairman Huang Tianmu stated that the commission plans to propose a special law draft regarding virtual currencies in September this year. The purpose of this bill is to more effectively regulate the virtual currency market and ensure the safety of investors.

In addition, Huang Tianmu also mentioned the issue of fraud using virtual currencies, indicating that strict administrative penalties will be imposed on individual and foreign currency traders.