Taiwan Crypto Advocacy Body Becomes Formally Active With 24 Entities
The Taiwan Virtual Asset Service Provider Association, a crypto advocacy body, has been officially established with 24 founding cryptocurrency-related entities. The association will serve as a liaison between the private sector and the government in supervising the crypto industry. Its initial task is to develop a self-regulation code addressing industry classification, listing and delisting, consumer protection, risk control, transaction monitoring, and advertising solicitation. The association's establishment was approved by Taiwan's Interior Ministry in March 2024. BitoPro founder and CEO Titan Cheng will serve as chair, and XREX Chief Revenue Officer Winston Hsiao as vice chair. This move follows Taiwan's efforts to regulate the crypto sector after the FTX scandal.
