Media: Taiwan banned the purchase of cryptocurrencies with bank cards

Media: Taiwan banned the purchase of cryptocurrencies with bank cards

Media: Taiwan banned the purchase of cryptocurrencies with bank cards

The Taiwan Financial Supervision Commission (FSC) sent a letter to the banking association demanding a ban on the use of credit cards to pay for digital assets. Forkast reports this with reference to local media.

In the document, the regulator warned about the risks associated with cryptocurrencies and gave financial institutions three months to comply with new requirements.

According to media reports, FSC also limited the use of bank cards for online gambling, the purchase of shares, futures and options.

According to the regulator, the payment instrument should be used “for consumption, not financial investments and speculative trading.”

< p> Recall that in June, the head of the Central Bank of Taiwan, Yang Chin-long, said that the department is still working on a national digital currency. However, it is too early to talk about the exact timing of the release of CBDC.

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