Taiwan's 2nd Biggest Telco, Taiwan Mobile, Acquires Local VASP License

IconCryptoNewsTerminal Staff04 Jul, 2024

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Taiwan's 2nd Biggest Telco, Taiwan Mobile, Acquires Local VASP License

Taiwan's second-largest telecom operator, Taiwan Mobile (TWM), has acquired a local virtual asset service provider (VASP) license, becoming the first telecom company in the country to provide cryptocurrency trading services. The license, issued by Taiwan's Financial Supervisory Commission, will allow TWM to offer a range of cryptocurrency-related services, including exchange, custody, and remittance. TWM plans to launch its cryptocurrency services by the end of the first quarter of 2023. Taiwan has been taking a cautious approach to regulating cryptocurrencies, but the recent issuance of the VASP license to TWM signals a growing willingness to embrace the technology. The move is expected to boost the development of the cryptocurrency industry in Taiwan and make it easier for users to access and trade digital assets.

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