Taiwan Financial Supervisory Commission: Draft of virtual asset law to be released as early as next year

On May 23rd, it was reported that the progress of the special law research on virtual assets was discussed. The new chairman of Taiwan's "Financial Supervisory Commission", Peng Jinlong, stated yesterday that he still needs to meet with industry representatives to discuss. The research evaluation results will be announced as early as September. It is expected that the draft will not be sent to the "Executive Yuan" and "Legislative Yuan" for review until the first half of next year. Currently, the focus is on coaching industry representatives to establish a peer association to formulate self-regulatory norms to get through the interim period.