Taiwan could be next for ETF approval

According to chamber of commerce, first products could be launched in the second half of the year

Taiwan could be the next country to approve Bitcoin exchange-traded funds (ETFs) as the Asian nation plans to launch new digital asset regulations in September.

The Taiwan Chamber of Commerce is set to reveal a study about spot Bitcoin ETFs in April and the study is predicted to be positive and highlights the nation’s proactive approach to digital assets.

Gao Jingping, the deputy director of the Warranty Bureau, said: “In addition, concerning actively managed and multi-asset ETFs, the Investment Trusts and Consulting Association’s research report has already been submitted to the Securities and Futures Bureau, and if the industry is actively involved, the first product may be launched in the second half of the year.”

Taiwan was recently predicted to be the next Asian crypto hub after introducing the Virtual Asset Management Bill to parliament which marked a significant step toward comprehensive digital asset regulation.

The bill aims to protect customers and supervise the industry, with strict penalties for non-compliance. It also restricts foreign virtual asset service providers (VASPs) as well as high-risk activities like derivatives trading and the use of stablecoins.

The introduction of ETFs in the US allowed Bitcoin values to soar and saw it break records with $2.4bn of weekly inflows.

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Written by David Kent

David has more than a decade of sports betting and sports writing experience working with some of the biggest names in the industry. He focuses on articles covering these subjects including how crypto is transforming sportsbooks.

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