Media: Taiwan bans buying cryptocurrencies with debit cards
- July 22, 2022
- 0
The Taiwan Financial Supervisory Commission (FSC) has sent a letter to the banking union demanding that the use of credit cards to pay for digital assets be banned.
The Taiwan Financial Supervisory Commission (FSC) has sent a letter to the banking union demanding that the use of credit cards to pay for digital assets be banned. Reported by Forkast with reference to local media.
In the document, the regulator warned of the risks associated with cryptocurrencies and gave financial institutions three months to comply with the new requirements.
According to media reports, the FSC has also restricted the use of debit cards for online gambling, stock buying, futures and options.
According to the regulator, the means of payment must be used “for consumption, not for financial investment and speculative trading.”
Recall that in June, Yang Chin-long, head of the Taiwan Central Bank, said that the department is still working on a national digital currency. However, it is too early to talk about the exact timing of the CBDC’s launch.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
