Taiwan’s Financial Supervisory Commission (FSC) is set to adopt a new fundraising mechanism based on security token offerings (STOs), according to an article published by the Taiwan Economic Daily.
A symposium has been scheduled for the end of April 2019, serving as a forum for industry practitioners to voice their views and opinions on the matter, with plans to devise relevant issuance standards and norms by the end of June 2019.
Gu Lixiong, chairman of the FSC, stressed that there could be different exchanges for STOs beyond existing stock exchanges, noting that an STO is an “emerging product” of next-generation capital markets. He also acknowledged that this may impact the popularity of Taiwan’s new creative teams across the international market over the next 5 to 10 years.
The FSC, which serves as an independent government agency subordinate to the Executive Yuan of the Republic of China (Taiwan), was established on July 1st 2004 as the authority responsible for the development, supervision, regulation, and examination of financial markets and financial service enterprises in Taiwan. The commission’s stated purpose is to “ensure safe and sound financial institutions, maintain financial stability, and promote the development of our financial markets.”
The commission had previously disclosed plans to reverse the hands-off policy it assumed in 2017 by outlining official regulatory measures for initial coin offerings (ICOs) by June 2019.
Since its establishment, the principal goals of the FSC have been to foster a sound, fair, efficient, and internationalized environment for the financial industry, while also strengthening protections for consumers and investors and helping the financial industry to achieve sustainable development.
Still in the region, Tipsuda Thavaramara, deputy secretary of the Thai Securities and Exchanges Commission (Thai SEC), made known that the domestic regulator had not yet decided on how to regulate STOs in terms of share ownership, voting rights, and dividends.
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