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Does Trump's meme coin violate the law? FSC: Not subject to current Taiwan regulations
1/22 The Lunar New Year press conference of the FSC was hosted by Chairman Huang Chin-lung. When asked about the legal issues related to the Trump meme coin (TRUMP) and the Melania meme coin (Melania), which many Taiwanese people are involved in trading, the Financial Supervisory Commission, responsible for regulating virtual currencies, also responded.
Is it illegal for Trump's meme coin? FSC finds it difficult to intervene
Chang Chen-shan, the former director of the Financial Supervisory Commission's Securities and Futures Bureau, stated that cryptocurrencies like TRUMP are the actions of specific individuals and have not been marketed or advertised in Taiwan, so they are not subject to current regulations in Taiwan. He also mentioned that it is difficult for Taiwan regulators to intervene in cryptocurrencies issued by overseas individuals or communities.
FSC's Suggestions on Meme Coins
The FSC believes that a clear regulatory framework should be established for the management of Trump Coin and similar situations: for cryptocurrencies issued overseas but with potential impact in Taiwan, research on establishing a regulatory framework that meets the needs of the Taiwanese market; promoting international cooperation and referring to the management experience of similar digital assets in other countries.
This article responds to whether Trumpcoin violates the law? FSC: Taiwan's current regulations do not apply, first appeared in Chain News ABMedia.