Taiwan: anti-money laundering law to cover Bitcoin

Governor of Central Bank of Taiwan claims that anti-money laundering law should cover Bitcoin trading
27 October 2017   1241

Perng Fai-nan (彭淮南), governor of the Central Bank of the Republic of China (Taiwan),claims that Bitcoin trading should be added to the island’s anti-money laundering notification system.

According to local sources, Perng worries that Bitcoin could be used covertly for illegal transactions, like drug trafficking and tax evasion. Thus, the man suggests that Taiwan’s money laundering regulation include cover cryptocurrency field. Perng also adds that the central bank will continue examining digital currency, while not calling Bitcoin a currency.

Earlier this month, it's been reported that Taiwan will not follow the paths of China and South Korea: the county is not to regulate against ICOs and cryptocurrencies. In particular, Taiwan's Financial Supervisory Commission chairman Wellington Koo pledged to leave “space open” for the development of cryptocurrency and distributed ledger technology in Taiwan.

Franck Muller to Create Encrypto Bitcoin Watch

A limited line of watches (up to 500 units of male and female models) priced from $ 10 to $ 60 thousand
23 May 2019   81

The Swiss luxury watch maker Franck Muller, in partnership with the cryptocurrency trading platform Regal Assets, launched Encrypto, the world's first functional bitcoin watch. This is reported by the Coindesk.

The main feature of Encrypto will be the possibility of "deep storage" of Bitcoin. So, along with the watch, customers will receive a USB wallet containing a private key to the wallet, the public key is applied to the watch face.

A limited line of watches (up to 500 units of male and female models) priced from $ 10 to $ 60 thousand is also available in the online store of Franck Muller, as well as in the company store in Dubai. Along with traditional credit card and bank transfer, you can buy them for Bitcoins.

The company also reported that they are considering the possibility of issuing such watches with the support of other leading cryptocurrencies, including Ethereum and XRP.

In the beginning of the year it became known that the Swiss watch manufacturer A. Favre & Fils is developing a handmade mechanical watch with a built-in cryptocurrency wallet.