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.
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.