Foresight News: BitShine co-founder Chen Peiyun announced on Facebook that Taiwan's Financial Supervisory Commission (FSC) has called a meeting on August 8th with all registered cryptocurrency exchanges in the country to discuss guidelines to be issued in September. Key points from the meeting include:
1. 70% of the attendees expressed concerns about banks' unfriendly attitude towards exchanges, with some banks demanding account closures and immediate repayment of corporate loans;
2. Individual and corporate currency dealers who have not registered with the FSC will face penalties ranging from TWD 500,000 to TWD 10 million under anti-money laundering laws;
3. Some non-Taiwanese exchanges have submitted declarations to the FSC, intending to establish a presence in Taiwan;
4. Exchanges are required to have bank trust or performance guarantees;
5. An industry association will be established after the guidelines are issued in September;
6. After the establishment of the association, self-regulatory standards for exchanges will be developed.
