Taiwan’s Financial Supervisory Commission (FSC) has said that a new Security Token Offering (STO) based fundraising mechanism will be established, according to an article published on Taiwan Economic Daily.
Administrated by the Executive Yuan of the Republic of China (Taiwan), FSC is an independent government agency. According to the report, the FSC has provided a detailed road map to adopt an STO-related fundraising mechanism as well. In order to listen to the opinions of the industrial stakeholders on the issue, a symposium will be held at the end of April 2019. By the end of June 2019, relevant issuance standards and norms will be formulated.
The chairman of Taiwan’s FSC, Gu Lixiong, highlighted the point that apart from existing stock exchanges, there can be different exchanges for STOs. He regarded them as a next generation product for the capital markets, adding that the region’s new creative teams’ popularity may be affected by STOs in the international market in the next five to ten years.
In October 2018, media reports revealed that Taiwan’s financial regulator was set to revise its hands-off crypto policy that was adopted in 2017. The regulator is expected to announce official regulations for initial coin offerings by June 2019.