Taiwan issues new crypto law: Tightens licensing, reserves, and penalties

Taiwan has passed a comprehensive new law to regulate its cryptocurrency industry, and is currently awaiting final approval from the President.

Key points of the law include:
* **Licensing requirements:** Crypto companies will have to comply with strict licensing regulations.
* **Mandatory reserves:** Sets rules for maintaining asset reserves.
* **Severe penalties:** Imposes strong penalties for violations.

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Source: CoinDesk