Taiwan’s Financial Supervisory Commission (FSC) has sent a letter to the Banking Association demanding a ban on using credit cards to pay for digital assets. This is reported by Forkast, citing local media.
In the document, the regulator warned about the risks associated with cryptocurrencies and gave financial institutions three months to comply with the new requirements.
According to media reports, the FSC also restricted the use of credit cards for online gambling, buying stocks, futures and options.
In the regulator’s view, the payment instrument should be used “for consumption, not for financial investments and speculative trading”.
In June, the head of Taiwan’s central bank, Yang Chin-long, said that the agency is still working on a national digital currency. However, it is too early to speak about the exact timeline for the release CBDC.
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