Taiwan will not regulate against ICOs and crypto

Unlike China and South Korea, Taiwan will not regulate against ICOs and cryptocurrencies
06 October 2017   1092

Taiwan will not follow the paths of China and South Korea: the county is not to regulate against ICOs and cryptocurrencies. 

Today, Financial Supervisory Commission chairman Wellington Koo pledged to leave "space open" for the development of cryptocurrency and distributed ledger technology in Taiwan, as reported by international.thenewslens.com.

Just because China and South Korea are banning, doesn’t mean that Taiwan should follow suit – there is a huge opportunity for growth in the future. We should emulate Japan, where they treat cryptocurrency as a highly regulated, highly monitored industry like securities.
 

Wellington Koo
Financial Supervisory Commission chairman

Philipp Pieper, co-founder of Swarm Fund, a U.S.-based platform focused on attracting alternative funding for high-risk assets such as distressed real estate through tokenization, argues that "crypto is here to stay in some form, whether its fiat money and crypto in a hybrid or crypto only". The man continues, claiming that "if you don't realize that as a reality then you are shutting yourself down for future compatibility as a country or a company. There is a real systems competition that is happening where smaller more agile countries can outpace other countries in terms of their stance".

Waht the future has in stock for Taiwan, remains to be seen. What's important, is that Taiwan made a start.

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   97

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.