While the mere mention of “regulations” may result in crypto enthusiasts’ guards going up, this situation is a tad different. Wellington Koo, the head of the Taiwan Financial Supervisory Commission, has a reputation for being crypto’s friend. For one, he has never thrown his support behind blanket bans on cryptocurrency. He has publicly said that he wants his country to follow Japan’s lead – regulate and monitor cryptocurrency.
Naturally, there are still concerns about this new legislation. For his part, Koo has stated that “the commission has no intention of curbing the creativity and productivity associated with cryptocurrencies if they are not used as securities.”
The new ICO regulations are supposed to be completed in June 2019. For those who have reservations, Koo insists that the goal of the Financial Supervisory Commission is to boost legitimate ICOs and help them open up opportunities all the while clamping down on the “bad guys”.