In response to Bloomberg, folks acquainted with the matter have reported that Taiwan’s second-largest telecommunications firm, Taiwan Cellular, is exploring partnerships with native crypto platforms. The state-licensed telecommunications supplier is within the early phases of negotiations with crypto corporations relating to potential alliances.
Taiwan Cellular mentioned it was “open to any potential alternatives” however declined to remark additional. Wayne Huang, co-founder of XREX, declined to touch upon whether or not his firm is in talks with the island’s second-largest telecommunications agency. Nonetheless, he expects that because the Web3 sector matures and regulatory necessities develop into clearer, it’s going to embody bigger organizations.
In March, Taiwan chosen the Monetary Supervisory Fee (FSC) as the principle regulator of digital asset service suppliers. By the tip of September, the fee plans to supply exact regulatory steerage. In response to stories, the FSC is not going to regulate non-fungible tokens (NFTs) as they’re nonetheless of their early phases of improvement as an asset class and it’s too early to manage them.