Secretary Janet Yellen on Nostr: #Taiwan To Make #Bitcoin Legal Tender Scroll down to the second part of the article ...
#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.
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.