#Taiwan To Make #Bitcoin Legal Tender
Scroll down to the second part of the article
https://www.tekedia.com/paypal-to-offer-crypto-services-in-uk-taiwan-to-make-bitcoin-legal-tender/
In a historic move, Taiwan has announced that it will make Bitcoin a legal tender in the country, becoming the second nation in the world to do so after El Salvador. The decision was made by the Legislative Yuan, the unicameral legislature of Taiwan, after a heated debate and a close vote on October 30, 2023.
The bill, titled “The Digital Currency Legalization and Regulation Act”, aims to provide a clear legal framework for the use, exchange, taxation and regulation of Bitcoin and other cryptocurrencies in Taiwan. The bill also recognizes Bitcoin as a foreign currency for the purposes of foreign exchange and trade.
According to the bill, Bitcoin will be treated as a legal means of payment for all public and private transactions in Taiwan, as well as a store of value and a unit of account....
...The bill is expected to take effect on January 1, 2024, after a two-month period of public consultation and preparation. The FSC has announced that it will issue detailed regulations and guidelines for the implementation of the bill before the end of this year.
Secretary Janet Yellen
npub1gr…lelrn
2023-11-05 18:17:31
Author Public Key
npub1grk0tx6kqzvp86jvxzqmr8va2f0hdklj2xj6qwymf04z0saxhx8svlelrnPublished at
2023-11-05 18:17:31Event JSON
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"content": "#Taiwan To Make #Bitcoin Legal Tender\n\nScroll down to the second part of the article\n\nhttps://www.tekedia.com/paypal-to-offer-crypto-services-in-uk-taiwan-to-make-bitcoin-legal-tender/\n\n\nIn a historic move, Taiwan has announced that it will make Bitcoin a legal tender in the country, becoming the second nation in the world to do so after El Salvador. The decision was made by the Legislative Yuan, the unicameral legislature of Taiwan, after a heated debate and a close vote on October 30, 2023.\n\nThe bill, titled “The Digital Currency Legalization and Regulation Act”, aims to provide a clear legal framework for the use, exchange, taxation and regulation of Bitcoin and other cryptocurrencies in Taiwan. The bill also recognizes Bitcoin as a foreign currency for the purposes of foreign exchange and trade.\n\nAccording to the bill, Bitcoin will be treated as a legal means of payment for all public and private transactions in Taiwan, as well as a store of value and a unit of account....\n\n...The bill is expected to take effect on January 1, 2024, after a two-month period of public consultation and preparation. The FSC has announced that it will issue detailed regulations and guidelines for the implementation of the bill before the end of this year. ",
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