Cryptocurrency in Taiwan

[KHHville]

Fintech startup WOO Network was to be registered under Taiwan’s Money Laundering Control Act, the firm said on Thursday.

Reads like all those platforms will have to comply with Taiwan’s MLCA and so they’ll have to register their users with the authorities so as to not be money laundering centers, in which case, those platforms are not “secretive”, which is at the top of the reasons that many people are promoting cryptocurrencies - that is, to get out of the control of central banks.
Or, another way to look at it is Taiwan will some day want to initiate its own CBDC, in which case, we all lose.

[anon50641892]

@KHHville

Or, another way to look at it is Taiwan will some day want to initiate its own CBDC, in which case, we all lose.

I believe Taiwan already came out and said they are actively working on CBDC for TWD a few months back. Timeline is unclear, however.

Taiwan c.bank says it is working on digital currency, unclear on timetable

[KHHville]

No one should want a CBDC.
In a world where it’s 100% used, people who sell stuff even on this forum will then suddenly be taxed on it as income. That’s just the start of the can of worms to be released with it.

[anon50641892]

You tell that to the governments. Don’t tell us tax payers.

[KHHville]

@anon50641892

You tell that to the governments. Don’t tell us tax payers.

We can’t tell governments to do anything we want them to do anymore.
They’re out of control now in all aspects of our lives.

[Explant]

@KHHville

.
Or, another way to look at it is Taiwan will some day want to initiate its own CBDC, in which case, we all lose.

That’s my bet Mr. P up north has made mention of wanting taipei to be cashless/digital in the past