Legislators in Taiwan have formed a parliamentary Alliance on blockchain to facilitate growth and development of the industry. The announcement was made on Facebook to a member of Parliament Jason Xu, Yu-Yong (Jason Hsu Yu-Jen).
It is expected that the parliamentary coalition in the blockchain (TPCB), headed by the official, will contribute to achieving cross-party consensus between politicians of Taiwan to develop a clear, favorable and effective regulatory framework for the sector of the blockchain and cryptocurrency.
The official ceremony marking the establishment of the coalition, and starting the self-regulatory organization of Taiwan at the crypto and the blockchain (TCBSRO), founded earlier, was held in Taipei on may 21. It is expected that the members will have to meet the requirements of transparency, data security and the protection of investors that have been developed in order to ensure a healthy and “respecting the law” market.
In particular, the work of the parliamentary Alliance will aim to push the government to a more open and active approach to the regulation of technological innovation. In addition, the TPCB will conduct activities aimed at the development of mutual trust between cryptoprotection and official authorities. In turn, self-regulatory organization minimizes the need for excessive intervention by the authorities in the sphere in which many internal measures.
It is worth noting, Jason Xu, Yu-Yeong for a long time was a supporter of the blockchain and scriptaction. Recently, he posted on Twitter its proposals to transform Taiwan into a “kryptonate” and “island of the blockchain”.
“To attract global cryptocurrency exchanges to move to Taiwan; to create a cluster for bitcoin – and the blockchain talents; sandbox ICO; attracting global licenzirovanie funds and venture capital companies in Taiwan. This is my vision of transforming Taiwan to kriptonite and the island of the blockchain. I’m working to create an enabling regulatory environment to promote the healthy development of the ecosystem,” wrote Xu Yu-Yong.
By the way, the “island block” often called Malta, attracting giants of kriptonyte such as Binance, its openness and innovative approach in the field of regulation.
However, as you know, Taiwan has not followed China’s example in matters of cryptocurrency. Moreover, about his plans to run for mayor of Taipei this year, recently said the famous kriptonite, the winner of the IT-hackathon Facebook and the CEO of a major cryptocurrency exchanges AND OTCBTC-ting Chen (Yi-Ting Chen).
Explore the possibilities of the blockchain and the Central Bank of Taiwan, and in may about the launch of the payment system on the basis of Ethereum announced private Bank of Taipei Taipei Fubon Commercial Bank.
At the same time, the Ministry of justice of Taiwan presented the plans for the implementation of more stringent control mechanisms in respect of crypto-currencies to strengthen measures to combat money laundering, which, according to some, will be effective from Nov.