The Federal Bank announced that it would close the agreed transfer of crypto exchanges within two months, and the agreed gold flow to the crypto exchange in Taiwan will be reduced by another one, and it is rumored that various banks are also considering cutting off the agreed transfer channels of the exchange. (Summary: 6 key points of the public hearing of Taiwan's Crypto Law "Virtual Asset Services Act": If the unlicensed business is involved in fraud, it will be aggravated!) (Background supplement: Taiwan's new system is on the road: accounts are frozen "unable to withdraw and transfer" without trading for half a year, users complain about nuisance) The Federal Bank threw a shock bomb on June 11: immediately suspend the agreed transfer of Taiwan dollars on virtual currency exchanges, and from August 11, the bound accounts that have been opened will also terminate the transfer. Restrictions include automated teller machines (ATMs), personal online banking, federal mobile banking, and phone banking. For investors who are accustomed to depositing and withdrawing funds through federal bank accounts, there is an additional blockade. Banks are worried about fraud risks Less than two hours after the announcement was released on the same day, the customer service mailboxes of local exchanges such as BitoPro and MaiCoin poured in with a large number of inquiries. The current situation can only use the account bound to the exchange, using the temporary counter non-agreed remittance, with a single limit of 300,000 yuan and a daily limit of 500,000 yuan. In March, Chung Hua Post had quietly shut down the same service. According to the Freedom Times, a number of banks are working on the same plan, and there may be more than two cases of disconnecting the deposit and withdrawal links of crypto exchanges. The main reason is that the proportion of fraudulent warning accounts with gold flowing in and out of crypto exchanges is too high. The Financial Regulatory Commission is advancing the draft virtual asset service law, and the central bank is simultaneously calling for strengthening the management of stablecoins, and operators with exchange operators as the main body and bankers with stablecoin business as the main business are advancing in both directions at the same time; However, banks put away the gold flow links with crypto exchanges in order to "prevent fraud", which makes it more difficult for exchanges to do business. Extended reading: 6 key points of the public hearing of Taiwan's crypto law "Virtual Asset Service Law": If the unlicensed business is involved in fraud, it will be dealt with aggravated! The bank has its own bitter water, can not exceed the warning account index, found that the proportion of warning accounts in the crypto exchange gold flow is too high, in order to avoid internal costs in vain, the financial management committee warns, the bank has the autonomy to block the agreed account of the exchange. The reality makes exchanges, or any crypto newcomer that includes gold flow services, fearful: banks consider the "shutdown" of liquidity to prevent blocking gold flows, fraud is the heaviest piece of the heart, and the result is to slowly choke cryptocurrency services. The author can't help but have a hunch: will banks eat up all local crypto services? Banks can issue stablecoins, can host cryptocurrencies, and can launch crypto trading services in the future, won't the existing crypto industry become more and more bitter? The outline of crypto gold flow and traditional financial cooperation seems to be unclear before the third reading of the law, and perhaps the landing of foreign capital will determine whether Taiwan's crypto is facing global liquidity or trapped in a closed sandbox and low-risk gold flow. Related reports U.S. Chamber of Commerce white paper warns of "Taiwan power shortage": unstable energy supply, threatening semiconductor AI development EU MiCA "2026 full hand Defi" industry bitter haha, how to affect the direction of Taiwan's supervision? 〈Not only the Federation! Banks consider "blocking exchange deposits and withdrawals", how to play Taiwan crypto? This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".
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Not just the federal government! Banks are considering "blocking deposit and withdrawal from exchanges"; how does crypto work in Taiwan?
The Federal Bank announced that it would close the agreed transfer of crypto exchanges within two months, and the agreed gold flow to the crypto exchange in Taiwan will be reduced by another one, and it is rumored that various banks are also considering cutting off the agreed transfer channels of the exchange. (Summary: 6 key points of the public hearing of Taiwan's Crypto Law "Virtual Asset Services Act": If the unlicensed business is involved in fraud, it will be aggravated!) (Background supplement: Taiwan's new system is on the road: accounts are frozen "unable to withdraw and transfer" without trading for half a year, users complain about nuisance) The Federal Bank threw a shock bomb on June 11: immediately suspend the agreed transfer of Taiwan dollars on virtual currency exchanges, and from August 11, the bound accounts that have been opened will also terminate the transfer. Restrictions include automated teller machines (ATMs), personal online banking, federal mobile banking, and phone banking. For investors who are accustomed to depositing and withdrawing funds through federal bank accounts, there is an additional blockade. Banks are worried about fraud risks Less than two hours after the announcement was released on the same day, the customer service mailboxes of local exchanges such as BitoPro and MaiCoin poured in with a large number of inquiries. The current situation can only use the account bound to the exchange, using the temporary counter non-agreed remittance, with a single limit of 300,000 yuan and a daily limit of 500,000 yuan. In March, Chung Hua Post had quietly shut down the same service. According to the Freedom Times, a number of banks are working on the same plan, and there may be more than two cases of disconnecting the deposit and withdrawal links of crypto exchanges. The main reason is that the proportion of fraudulent warning accounts with gold flowing in and out of crypto exchanges is too high. The Financial Regulatory Commission is advancing the draft virtual asset service law, and the central bank is simultaneously calling for strengthening the management of stablecoins, and operators with exchange operators as the main body and bankers with stablecoin business as the main business are advancing in both directions at the same time; However, banks put away the gold flow links with crypto exchanges in order to "prevent fraud", which makes it more difficult for exchanges to do business. Extended reading: 6 key points of the public hearing of Taiwan's crypto law "Virtual Asset Service Law": If the unlicensed business is involved in fraud, it will be dealt with aggravated! The bank has its own bitter water, can not exceed the warning account index, found that the proportion of warning accounts in the crypto exchange gold flow is too high, in order to avoid internal costs in vain, the financial management committee warns, the bank has the autonomy to block the agreed account of the exchange. The reality makes exchanges, or any crypto newcomer that includes gold flow services, fearful: banks consider the "shutdown" of liquidity to prevent blocking gold flows, fraud is the heaviest piece of the heart, and the result is to slowly choke cryptocurrency services. The author can't help but have a hunch: will banks eat up all local crypto services? Banks can issue stablecoins, can host cryptocurrencies, and can launch crypto trading services in the future, won't the existing crypto industry become more and more bitter? The outline of crypto gold flow and traditional financial cooperation seems to be unclear before the third reading of the law, and perhaps the landing of foreign capital will determine whether Taiwan's crypto is facing global liquidity or trapped in a closed sandbox and low-risk gold flow. Related reports U.S. Chamber of Commerce white paper warns of "Taiwan power shortage": unstable energy supply, threatening semiconductor AI development EU MiCA "2026 full hand Defi" industry bitter haha, how to affect the direction of Taiwan's supervision? 〈Not only the Federation! Banks consider "blocking exchange deposits and withdrawals", how to play Taiwan crypto? This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".