Taiwan will not regulate against ICOs and crypto

Unlike China and South Korea, Taiwan will not regulate against ICOs and cryptocurrencies
06 October 2017   1426

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.

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   55

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.
 

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.