envi+84988723188, +84988211968
[email protected]

Taiwan loosens restrictions on using STOs to raise money

Taiwan Financial Supervisory Commission (FSC) loosens restrictions on using STOs to raise money

Considering that the “regulatory framework” encourages company operators to deploy security tokens in the Regulatory sandbox, which serves as the primary means of international control of STOs, Taiwan Financial Supervisory Commission (FSC) asked Taipei Exchange to gather data on global best practices and opinions from corporate executives in order to timely alter the appropriate rules as part of a “pilot” financial supervision for testing.

The FSC concurs with the Taipei Exchange’s proposal to adjust the relevant STO regulations as follows: In line with the principle of not contradicting the STO monitoring framework, in order to improve the business capability of platform operators, and taking business risks into account:

(I) Amendment of STO Regulatory Rules: Provided that the securities company does not materially violate the relevant provisions of the governing STO rules, the time period for a platform to accept a second STO becomes up after accepting the first STO’s trades to be eased. up to six months (initially a year). In addition, the fundraising limit of a single platform was increased from NT$100 million to NT$200 million.

(II) Overseas Chinese and foreign nationals can invest up to NT$30 million (inclusive) of the amount raised; The FSC will amend the relevant orders and request the Taipei Exchange to amend the STO’s regulatory rules and related support measures.

Source: FSC

Related Posts

Leave a Reply

Recent Articles

Educational Technology: Blockchain in Education
May 5, 2023
Hong Kong may license cryptocurrency firms by year-end
April 15, 2023
The Prime Minister gave the departments the task of integrating and sharing the demographic database in order to create a digital citizen ecosystem
March 22, 2023
The Government of Vietnam has just issued Decree No. 53/2022/ND-CP detailing a number of articles of the Cybersecurity Law
March 13, 2023
State Bank has submitted a report to the National Assembly on the Proposal of Law on Anti-Money Laundering (amended)
March 8, 2023
The Prime Minister signed Decision No. 941/QD-TTg on the issuance of the National Action Plan on prevention and combat of money laundering
February 28, 2023
The Prime Minister issued Decree No. 59/2022/ND-CP establishing electronic identification and authentication
February 20, 2023
Guidance on coordination in control of staff assets
February 15, 2023
New export C/O form RCEP applied from 01/01/2023
February 8, 2023
Add information “place of birth” to passports
February 1, 2023