Taiwan’s FSC Embarks on the Supervision of Crypto, FSC Head Says

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Huang Tien-mu announced that the FSC would take up the charge of supervising crypto in Taiwan.
The FSC Chairperson added that the regulation of the NFTs would be excluded in the beginning.
People familiar with the matter told that the FSC had been discussing with the relevant authorities regarding the matter.

Huang Tien-mu, the Chairperson of the Financial Supervisory Commission of the Republic of China (Taiwan) declared on Monday that the Financial Supervisory Commission would be considered the supreme authority to oversee crypto in the country, as an initiative to mitigate the market turmoil.

Notably, the Chairperson asserted that the Financial Supervisory Commission would superintend the procedures of crypto transactions and payments. However, he added that the commission wouldn’t take up the charge of supervising the non-fungible tokens (NFTs) in the beginning.

According to a person familiar with the matter, who has been reluctant to reveal his identity considering its confidential nature, the official announcement of the FSC as the chief regulator of crypto would be released as soon as possible.

It is noteworthy that the whole crypto space has be…

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