Taiwan FSC Renews Virtual-Asset Scam Warning
Key Takeaways
- 01Taiwan’s FSC renewed its warning on 26 January 2022 about virtual-asset volatility and fraud risks.
- 02The warning is intended to protect the public from losses linked to volatile virtual-asset prices and scam activity.
- 03Suspected scams may be reported to the National Police Agency’s 165 Anti-fraud Hotline or the Ministry of Justice Investigation Bureau.
- 04The notice emphasizes caution by virtual-asset users rather than establishing new business compliance duties.
Taiwan’s Financial Supervisory Commission (FSC) on 26 January 2022 again warned the public about virtual-asset price volatility and scams involving blockchain technology and virtual assets.
The warning aims to reduce consumer harm as virtual assets can experience sharp price movements and may be used in fraudulent schemes. The FSC urged members of the public to exercise caution when dealing with virtual assets.
People who identify a suspected scam can submit a report through the National Police Agency’s 165 Anti-fraud Hotline or file a complaint with the Investigation Bureau of the Ministry of Justice.
The notice is principally a consumer-protection reminder rather than a new set of compliance obligations for virtual-asset businesses. For users and investors, the practical step is to treat suspicious virtual-asset offers or transactions as potential fraud and report them promptly through the specified channels.