Taiwan’s Regulators Considering Allowing Convenience Stores to Facilitate Crypto to Cash Transactions

  • Cryptocurrency to cash transactions might be approved in Taiwan, according to regulators.
  • Taiwanese lawmakers are evaluating the risks associated with such services and will submit update crypto regulations next month

Taiwan’s financial regulator, the Financial Supervisory Commission (FSC), is reportedly considering to allow convenience stores in the country to conduct cash transactions involving cryptocurrencies.

FSC chairman, Wellington Koo, recommended on Thursday that digital currency-related cash transactions be allowed “under daily limits.” Local crypto firms have advised that the maximum daily limit be “set at NT $100,000 (3,260 USD) to NT $20,000 (652 USD).”

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