Taiwan Welcomes a New Era of Large-scale Encryption Investment? The Bankers Association Will Suggest to the Financial Supervisory Commission: Include Foreign Virtual Asset ETFs in the Scope of Trust Investments.

According to the latest news, the Association of Banks proposes to include foreign virtual asset ETFs in the scope of trust investment in foreign securities, and to open up foreign structured commodities to link foreign virtual asset ETFs, and the Association of Banks plans to include this recommendation in the Financial Federation's Financial Advice White Paper, which is expected to be formally adopted at the recent Board of Directors and Supervisors. (Summary: Financial Regulatory Commission: Taiwan's Virtual Assets Special Law February Office Hearing in June, Stablecoins are included in the supervision, Bitcoin ETF is open to retail investors for another half year) (Background supplement: The Financial Regulatory Commission engages in black boxes? Crypto Law Public Hearing "Announced in the Morning and Held in the Afternoon", Peng Jinlong: Taiwan's regulation is at the forefront of the world) We know that the current attitude of Taiwan's Financial Regulatory Commission (FSC) towards cryptocurrency-related products is relatively conservative. Taiwanese local brokerages are not yet able to open retail investors to trade spot cryptocurrency ETFs in the United States or Hong Kong (currently only available to qualified professional investors, and can be traded by re-entrustment). Although general investors can also directly open accounts with overseas brokers (e.g. Interactive Brokers, Firstrade Firstrade, etc.) and directly purchase cryptocurrency ETFs listed in markets such as the United States or Hong Kong, this means that fund remittance, account management, customer service, legal application, etc. need to comply with overseas regulations, and investors need to assess the relevant risks by themselves, which is more difficult for users who are not familiar with this field. Association of Banks Advice May Bring Change However, the status quo may be about to change. In response to the FSC's policy vision of establishing Taiwan as Asia's asset management hub, the Association of Banks is actively developing financial innovation solutions. According to the latest reports, the Association of Banks plans to include relevant recommendations on cryptocurrency investment in the Financial Association's "White Paper on Financial Advice", which is expected to be formally adopted by the board of directors and supervisors held in the near future. It is understood that the core proposal of the Association of Banks, in addition to adjusting the limit on the number of pledged loans and adding new pledge targets, also includes: Include foreign virtual asset ETFs in the scope of trust investment in foreign securities. Open offshore structured commodities can be linked to foreign virtual asset ETFs. Taiwan welcomes the era of cryptocurrency investment? If the FSC accepts this proposal, Taiwan's financial market may be expected to significantly increase the number and breadth of cryptocurrency investment products, injecting new momentum into the bank's trust sector and wealth management business. The possible changes that the author would like to extrapolate here: 1. Innovation in bank trust and wealth management business: At present, it is common for Taiwanese investors to "trust" money to banks and designate banks to use the money to invest in user-selected funds. If the FSC relaxes further, banks are expected to more easily develop new trust schemes that include foreign virtual asset ETFs as investment targets, such as the Bitcoin ETF issued by BlackRock. The wealth management department of the bank can also design more customized structured commodities to meet the investment needs of high-net-worth customers for digital assets. 2. Brokers set their own cryptocurrency fund portfolios: At the same time, Taiwanese brokerages will have the opportunity to include offshore structured commodities in virtual asset ETFs. For example, brokerages can launch ETFs that combine traditional assets (such as micro-strategies, mining stocks) with Bitcoin to attract users interested in diversifying their investments in the crypto market. As the new chairman of the SEC remains friendly to the cryptocurrency market, emphasizing the need for a clear, rational, and principle-oriented regulatory framework for virtual assets. Global acceptance of relevant virtual assets is expected to further increase. Related reports South Korea's FSC launches discussions on the second phase of the "Virtual Asset User Protection Act" regulatory framework, what about Taiwan? Exclusive Interview" Vishal Sacheendran, Head of Binance Regional Market: Binance will not become a bank, Taiwan supervision has a good start Taiwan's crypto law released "research results" in September! FSC: Not only does it catch money laundering, it has commissioned research on regulatory norms (Taiwan welcomes the era of crypto investment? The Association of Banks will recommend that the FSC: include foreign virtual asset ETFs in the scope of trust investment" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".