Taiwan does welcome initial coin offerings (ICOs), cryptocurrencies and blockchain and is working on regulating them under the control of the Taiwan Financial Supervision Commission (FSC).

Initial Coin Offerings or ICOs arouse love and hatred on the part of the states and it is that these ICOs involve a high risk of fraud, although if we know how to select the offers well, we can find solid projects and guarantees. Taiwan, and more specifically the Taiwan Financial Supervision Commission (FSC), intends to support ICOs, cryptocurrencies, and blockchain in the country. This movement is similar to that carried out by Japan and at a key moment, since China and South Korea are not exactly in favor of them.

This information comes thanks to the Lense news agency, which has obtained a report from the Taiwanese government on ICOs, cryptocurrencies and blockchain, which has been developed by the president of the FSC, Wellington Koo, after Congressman Jason Hsu, of the Nationalist Party, made the corresponding request during a parliamentary session. Koo ensures that there will not be an absolute ban on activities related to cryptocurrencies in the country. The report also states that the government will support innovators in their developments under the blockchain and cryptocurrencies.

Hsu has also commented in parliament that the 'Financial Technological Innovation Experimentation Law' be approved, in order to support government decisions. Through a bill, all financial activities based on technology or fintech and companies that are based on the blockchain, will be able to operate in the country freely.

“Just because China and South Korea are banning it, doesn’t mean Taiwan should follow suit – there is a huge opportunity for growth in the future. We should emulate Japan, where they treat cryptocurrency as a highly regulated and highly supervised industry like securities.”