Taiwanese stores may soon begin operations with virtual currencies. This was reported by the portal ChapiCap citing local media.
The financial Supervisory Commission of Taiwan (FSC) has already begun to consider options of starting the program at the freer circulation of electronic money in the domestic market. As noted by the Commission Chairman Wellington Koo, Taiwanese outlets will be able to carry out cash transactions related to digital assets. The authorities plan to introduce a daily limit on transactions with cryptocurrencies.
For example, the possibility of setting a maximum amount of one transaction with the use of digital assets not more than $3600. However, in the Commission there are opponents of liberalization. They believe that allowing shops to trade in tokens can lead to an increase in the number of criminal transactions, which will be disguised as a bona fide transaction.
The decision will be made soon after the Commission will consult with the Association of banks of China. It is not excluded that both organizations can develop a single standard for cryptocurrency operations to prevent criminal use of digital assets.
Taiwan has set a goal to become the cryptocurrency hub of Asia. However, he has strong rivals Japan and South Korea are also showing increased interest in virtual currencies.