FSC (The Taiwan Financial Supervisory Commission) has declared Bitcoin illegal following the rescue of businessman Wong Yuk-kwan, whose captors demanded a Bitcoin bribe for his release, equivalent to HKD 70m ($9.1m). Chairman of the The Taiwan Financial Supervisory Commission, Tseng Ming-chung, said that the regulator will make its new position clear to foreign governments. With this announcement, Taiwan joins Bangladesh and Thailand, the other countries in the region that have declared Bitcoin illegal.
The Taiwan Financial Supervisory Commission (FSC) has declared Bitcoin illegal following the rescue of businessman Wong Yuk-kwan, whose captors demanded a Bitcoin bribe for his release, equivalent to HKD 70m ($9.1m). Chairman of the FSC, Tseng Ming-chung, said that the regulator will make its new position clear to foreign governments. With this announcement, Taiwan joins Bangladesh and Thailand, the other countries in the region that have declared Bitcoin illegal.