Expert Skewers Taiwan Regulator Remarks On Bitcoin Legality

The head of Taiwan’s financial regulator has told a legislative committee that Bitcoin is “illegal” and that the agency will probe its use, but a prominent legal advocate of Bitcoin has dismissed the comments as a “storm in a teacup”.

Financial Supervisory Commission (FSC) chairman Tseng Ming-chung made the comments on Monday during a legislative committee hearing.

Citing recent demands for Bitcoin by Taiwanese kidnappers of a wealthy Hong Kong businessman, as well as Bitcoin services in convenience stores and online, one legislator asked Tseng if Bitcoin is an “acceptable currency”.

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