Does Taiwan use cryptocurrency?

Cryptocurrencies, despite not being recognised as legal tender in Taiwan, have gained significant traction in the financial sphere. This is due to their unique characteristics and potential as an alternative investment asset.

Taiwan's Financial Supervisory Commission (FSC) is committed to ensuring the cryptocurrency market operates within a framework of transparency and investor protection. To achieve this, the FSC is actively working on establishing clear and enforceable rules.

The FSC's efforts are aimed at regulating the use of cryptocurrencies as an investment asset. This means that while they may not be used as legal tender, investors can still participate in the market and trade cryptocurrencies under certain conditions.

Among the notable exchanges operating in Taiwan is BTCC, a UK-based cryptocurrency exchange. BTCC offers a range of services that cater to the needs of crypto enthusiasts and investors alike.

BTCC's services include spot trading, which allows users to buy and sell cryptocurrencies at current market prices. Additionally, it offers futures trading, a derivative product that allows investors to speculate on the future price movements of cryptocurrencies.