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Taiwan Mobile Co., Taiwan’s second-largest telecom firm, is deliberating potential partnerships with local crypto platforms.
The aim is to introduce crypto trading services for its extensive customer base, amid speculation of the firm possibly investing in one of these crypto ventures.
Taiwan Mobile Ventures into Crypto Collaborations Amidst Increased Regulatory Focus and Rising Interest
Reports suggest that Taiwan Mobile is in preliminary discussions with several crypto firms, including Taipei-based XREX Inc., to explore potential partnerships in the digital asset sector.
Taiwan Mobile has acknowledged these explorations but has not provided specifics. XREX co-founder, Wayne Huang, refrained from confirming the company’s involvement but expressed optimism about larger institutions entering the maturing Web3 sector.
He noted that collaborations between telecom operators and blockchain companies could be mutually beneficial as regulatory clarity improves.
Taiwan Mobile, the nation’s second-largest telecom provider, explores potential alliances in the cryptocurrency sector, akin to the fintech pursuits of its Japanese counterparts, suggests Bloomberg Intelligence’s Marvin Lo.
Under the new Ministry of Digital Affairs (MODA) established in August, Taiwan is earnestly examining blockchain and Web3 technologies. T
The MODA’s primary focus is on information security related to these evolving sectors.
Taiwan’s Financial Supervisory Commission (FSC), headed by Huang Tian-mu, recently announced its responsibility for regulating the local cryptocurrency market.
This involves ensuring a clear distinction between crypto trading platforms’ assets and customer holdings, supervising product listings on exchanges, and implementing protective measures for customers.
In addition, non-fungible tokens (NFTs) and other crypto-related assets fall under the MODA’s purview. The Taiwanese government aims to finalize a comprehensive regulatory framework for cryptocurrencies by September end, reinforcing its commitment to this burgeoning sector.
Binance and Taiwanese Authorities Collaborate to Fight Cybercrime and Bolster Security
While Taiwanese companies expand their operations in the country, Binance, a leading cryptocurrency exchange, has initiated a partnership with law enforcement agencies in Taiwan to combat cybercrime.
The collaboration aims to strengthen efforts in preventing illegal activities in the digital space.
As Taiwanese companies continue to broaden their local operations, global cryptocurrency leader Binance has allied with Taiwanese law enforcement to combat cybercrime, marking a step towards illegal activity prevention in the digital world.
The announcement of this partnership was made on June 9th via Binance’s official Twitter and a blog post on their website.
The company’s CEO, Changpeng Zhao, further amplified the news, noting the importance of this collaboration.
In line with Binance’s commitment to counter cyber threats and build worldwide law enforcement relationships, the company held a day-long training program in Taipei with Taiwan’s Criminal Investigation Bureau (CIB).
The program, led by Binance’s Law Enforcement Training and Investigation team, involved nearly two hundred participants, attending both physically and virtually.
The workshop addressed various topics, from emerging trends in cryptocurrency crimes to investigation techniques and prospective case studies in partnership with law enforcement to combat cybercrime.
Reflecting on the alliance, Damien Ho, Binance’s Head of Global Partnerships, recognized the burgeoning cryptocurrency interest in Taiwan.
He stressed the necessity for robust security within the crypto ecosystem to provide a safe user environment.
He further underscored Binance’s commitment to enhancing safety within this sphere through collaborations with relevant law enforcement entities, indicating the possibility of similar future alliances.
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