“Tokens exchanged for goods, such as those used in accruing points at convenience stores or mileage points accepted by airlines, would not be covered by the standards.”According to Koo, this is to prevent enacting legislation would discourage innovation in the sector. Koo said:
“The commission has no intention of curbing the creativity and productivity associated with cryptocurrencies if they are not used as securities.”Koo has been mostly supportive of digital currency space. Last year, the FSC chairman told countries parliament that he wouldn’t place outright bands on the crypto related activity in teh country like had been the case in China, South Korea and so on. At the time Koo indicated that he preferred having an enabling environment that would boost the development and adoption of blockchain technology and digital currencies in Taiwan. As reported by CCN
“Koo’s position was similar to that of Taiwanese legislator Jason Hsu, who had called on the government to follow a different path to that of China and South Korea.”What are your thoughts? Let us know what you think down below in the comments!