Published on August 18, 2023 09:11 GMT+00:00edited on August 18, 2023 09:14 GMT+00:00

Taiwan has proposed adding a new business category in relevant regulations, which may enable cryptocurrency-related companies to establish industry associations. This move is aimed at fostering the development of self-regulatory guidelines.

The Ministry of Economic Affairs announced Thursday that it has drafted an amendment to the Standards of Classification of Commercial Group regulations to add a category for digital asset services.

Today, an official from the economic ministry informed The Block that the newly proposed business category outlines the scope of operations within the cryptocurrency sector. This includes activities such as exchanging cryptocurrency for legal tender or other digital tokens, facilitating the transfer of cryptocurrencies, providing services for crypto …