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Taiwan to name FSC as main crypto overseer

Taiwan is expected to name its top financial regulator, the Financial Supervisory Commission (FSC), as the main authority overseeing cryptocurrencies to ramp up control over the industry. According to a Bloomberg report, the move follows the market turmoil sparked by the collapse of the FTX crypto platform. The announcement of the FSC as the chief regulator of cryptocurrency exchanges and virtual assets is anticipated by the end of March. This move marks the first time Taiwan has officially appointed a regulator for the cryptocurrency industry, shifting from its previous hands-off approach as authorities aim to increase oversight during a turbulent year. The commission is set to focus on regulating payment and trading-related virtual assets, while other government departments will oversee other aspects of virtual assets.


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