Sure. But that does mean you cannot transfer using the Stone Age “wire” 
By the way, what is the name of the Canadian service ?
No, the system was designed to let companies operate outside the existing regulations, see how it went, and then create licenses for those businesses if things went well. For (limited) remittance, that has now happened – see the TN article above.
Blinking yep. Just look at landlords not providing a receipt for rent or allowing you to register at their rental property. Small fry indeed. .
Yup I’ve done it a few times.
Another issue I have with Taiwan is there is also a great reluctance to adopt fintech options in general. Most people are happy with lining up and waiting for an hour to get served and updating an ancient bankbook. The existing fintechs didn’t do all that well with the exception of taishins Richart
So it’s not allowing innovation?
Innovation with traditional Chinese characteristics 
Which basically means nothing
Gold!
Haha. I signed on one account thinking that would be better… its worse, some teller made me sign 5 times so the signature was to her satisfaction.
Advice to all newbies, use your chop. Do not ever sign to open a bank account.
I’m not sure how you got that from what I said.
Nopes. I refuse to. I don’t even own one.
That’s happened to me too, and on one occasion they ended up showing me the picture of my old signature so I could copy it. Which was … nice of them.
The backwards nature of their innovation experience.
I’m my experience innovation systems are designed with a set of regulations the business would have to meet but allow the business to operate how ever their market demands.
This is backwards in my experience. It’s setting the business up to not qualify for a license if the regulators moods is so.
I think the main difference is that most countries already have fairly broad MSO regulations, whereas Taiwan is only now starting to introduce them. But I don’t think the FSC are setting anyone up to fail. You pitch them your idea, and they work with you on a set of practices for it that make sense, and then you go run it as a test case, and once the kinks are worked out it becomes a new set of regulations. Yes, they’re conservative in some areas, but the sandbox is a good-faith effort.
Innovation by committee… design by committee. Where has that worked . Ya nowhere!
Taiwanese regulatory organizations need to get their head out of the ground, thinking it’s fruitful to regulate every dollar.
If they started with the local problems like landlords, they would have built up proper detection and reporting systems. Not rely on standards coming from US or Europe. But I guess that’s asking for too much.
In that scenario who runs the business? The investors or the government?
Oh, THAT RICHART!?! Stellar fintech that is! Exceptional indeed…
The company runs itself, like any other company, in compliance with the regulations it has agreed to with the FSC. Those consist of pretty standard things like KYC, AML, and reporting.
Seem like you have good intentions. I just dot see it as you see it.
Change of typical.I wonder about how the system can be designed to succeed when very few applications have even progressed past the first goal.