FSC exposes the key points of Stable Coin regulation, intending to open bank issuance of Stable Coin. Will investors buy it?The Financial Supervisory Commission of Taiwan held a public hearing today, (13), to discuss the draft of the "Special Act on Virtual Asset Platform and Trading Business (VASP)." The most followed focus is the opening up for banks to hook up with new Taiwan coin or US dollar and other legal tender coins for Stable Coin issuance, providing a stable bridge for virtual currency coin trading. However, the international competitiveness of Taiwan's banking sector in issuing US dollar Stable Coin remains to be observed.
The FSC frankly admitted that only three VASPs have submitted registration under the regulatory system. Peng Jinlong: The focus has shifted from AML to institutional management (
FSC promotes the special law for VASP, with Stable Coin as a key highlight
The Economic Daily reported that according to the FSC's plan, the VASP special law will include seven chapters covering general provisions, management of virtual asset service providers, regulations of VASP associations, stablecoin issuance and management, regulatory measures, penalties, and supplementary provisions. The regulatory focus will be on corporate organizational structure, capital requirements, personnel qualifications, financial reporting, and user protection.
ChainNewsAbmedia·2025-02-13 03:49