According to the official government report, Shih Jun-ji, Taiwan’s Vice Premier of the executive branch of government, touched the topic of the impact of cryptocurrencies on the nation’s financial system during his speech at the Taiwan Academy of Banking and Finance.
Shih Jun-ji insists on introducing measures to control the cryptocurrency. In his opinion, the impact of Bitcoin and other cryptocurrencies should not be underestimated.
During his speech at the Taiwan Academy of Banking and Finance Shih highlighted that the cryptocurrencies are in the midst of a ‘bubble’. However, the soaring price gains of 2017 may not necessarily constitute a bubble of the ‘asset’ that is Bitcoin.
He also spoke about regulatory moves to oversee the cryptocurrency industry in Japan, the United States, European countries, and stressed the importance of planning policies to protect the financial system of Taiwan.
Unlike other Taiwan regulators, Shih Jun-ji is not hostile to the cryptocurrency, blockchain, and ICOs, and wants to secure the government’s financial system.