The Financial Supervisory Commission (FSC) of Taiwan recently announced the introduction of new guidelines to increase oversight of cryptocurrencies. This move is part of the FSC’s efforts to protect investors and ensure the integrity of the financial system.

The new guidelines will require cryptocurrency exchanges to register with the FSC and comply with anti-money laundering (AML) regulations. They will also be required to have adequate capital reserves and to provide regular reports on their activities. Additionally, the FSC will require exchanges to have a system in place to detect and prevent fraud and other illegal activities.

The FSC’s move is part of a larger effort by the Taiwanese government to regulate cryptocurrencies and protect investors. The government has already implemented a number of measures, including requiring exchanges to register with the FSC and comply with AML regulations.

The new guidelines are an important step towards ensuring the safety and security of cryptocurrency investments in Taiwan. They will help to ensure that investors are protected from fraud and other illegal activities, while also providing greater transparency and oversight of the industry.

The FSC’s move is part of a larger trend of increased regulation of cryptocurrencies around the world. Governments are recognizing the potential of cryptocurrencies, but they are also taking steps to protect investors and ensure that the financial system remains safe and secure.

Overall, the introduction of new guidelines by the FSC is a positive step for the cryptocurrency industry in Taiwan. It will help to ensure that investors are protected from fraud and other illegal activities, while also providing greater transparency and oversight of the industry. This will help to create a more secure and stable environment for cryptocurrency investments in Taiwan.