The Taiwan Virtual Asset Platform is preparing to establish an association and is expected to deliver the documents in mid-November.

The "Ministry of Economic Affairs" of Taiwan, China, has approved the 60-day notice period for adding the "Virtual Currency Business" category. The next step will be sent to the Ministry of the Interior for signature and release. The preparatory group of the Taiwan Virtual Asset Platform and Transaction Business Enterprise (VASP) Association is also discussing the structure of the association. , strive to submit the application for establishing a guild as soon as possible. Industry insiders said that it will take about a month for the Ministry of the Interior to process, so the association's preparatory group plans to send the documents in mid-November. Currently, in terms of structure, a preliminary consensus has been reached on 13 items. According to the latest meeting minutes of the preparatory group, the association expects to initially divide the "virtual currency business" into three categories: exchanges, wallets and other businesses, and has initially reached a consensus on the association's charging mechanism such as membership fees and annual fees. It is expected to establish nine directors and There are three supervisors and one alternate supervisor respectively. Follow-up meetings will give priority to discussing deposit and withdrawal limits and risk control-related regulations with the Banking Association and the Financial Supervisory Committee, and coordinating industry joint prevention and identification of suspicious activities. (Economic Daily)