Taiwan

The government of Taiwan this week enforced laws on unidentified crypto transactions, as it purportedly requested all digital currency exchanges working within its borders to fully establish the identity of their clients via effective know-your-customer (KYC) checks.

HTC is soon releasing its blockchain-powered mega smartphone called HTC Exodus, probably at the end of 2018.

Microsoft’s subsidiary in Taiwan is considering a partnership with two Asian firms, aiming to improve all aspects of the current financial market. The newly-born union hopes to create a strong blockchain industry and infrastructure in China. E-commerce, finance, and entertainment are the first industries to be developed.

The Ministry of Justice’s Investigation Bureau revealed that eight suspected people were detained on June 13 in Taichung and Taipei of a fraudulent deal amounting NT$1.5 billion (US$49.5 million), according to Phuket news and Taiwan news.

A second bitcoin exchange has suspended fiat deposits because of issues with intermediary banks.

Starting April 18th, 2017, customers of one of the largest cryptocurrency exchanges, Bitfinex, won’t be able to withdraw their Bitcoin to fiat due to problems with the Taiwan banks that the crypto exchange is moving customers funds through. Is this problem only between KGI Bank, First Commercial Bank, Hwatai Commercial Bank, Taishin Bank and the Bitfinex exchange, or could it affect all banks and exchanges within Taiwan?