Taiwan will review global trends before deciding 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 crypto exchange-traded funds (ETFs) in the country, but only after analyzing the product’s development in other markets worldwide.
According to a Dec. 5 report in the Taiwanese newspaper, the Commercial Times, the FSC is closely watching developments in the United States, where the Securities and Exchange Commission will review spot Bitcoin (BTC) ETFs in January.
The FSC also reportedly acknowledged the launch of numerous cryptocurrency futures commodities listed on the Toronto Stock Exchange, the New York Stock Exchange, the Nasdaq Exchange, the Chicago Board Options Exchange and the Hong Kong Stock Exchange, among others.
The FSC intends to gradually liberalize the rules for digital asset trading, but it should rely on “self-discipline and regulation.” According to the report, Taiwanese regulators have repeatedly blocked crypto ETF initiatives by local investment banks in recent years due to the high volatility of cryptocurrencies.
Cointelegraph reached out to the Financial Supervisory Commission for further information.
Related: Bitcoin ETFs, user experience will drive adoption — eToro CEO
Crypto regulatory developments have recently accelerated in Taiwan.
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