Taiwan will review global trends before relaxing on crypto ETFs
The Financial Supervisory Commission considers itself to be “in the exploratory phase” for crypto exchange-traded funds.
Taiwan’s principal financial regulator, the Financial Supervisory Commission (FSC), is considering allowing the crypto exchange-traded funds (ETFs) in the country, but only after analyzing the ETFs’ development on other markets around the globe.
According to the report in the Taiwanese newspaper, the Commercial Times, published on Dec.
The FSC also reportedly acknowledged the launch of numerous cryptocurrency futures commodities that have been listed on Toronto Stock Exchange, New York Stock Exchange, NASDAQ Exchange, Cboe and Hong Kong Stock Exchange, among others.
The FSC intends to gradually liberalize the rules for digital asset trading, but for now, it should rely on “self-discipline and regulation.” According to the report, Taiwanese regulators have repeatedly blocked the crypto ETFs initiatives by the local investment banks in the past years due to the high volatility of cryptocurrencies.
Cointelegraph reached out to the Financial Supervisory Commission for further information.
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