The input to this response has been curated through a series of member discussions, industry engagement, and previous engagement with global regulators over the years and GDF is grateful to its members who have taken part. The key points of feedback in our response are:
1. We support greater alignment to FATF standards and definitions wherever possible;
2. We support the development of proportionate, evidence based, consumer protection, financial crime, market integrity and financial stability solutions as the industry and technology continues to mature;
3. We request that access to global liquidity be carefully evaluated and that the Securities and Futures Bureau of the Financial Supervision Commission consider the benefits of global liquidity holistically and on a case-by-case basis; and
4. While we appreciate the consideration of global frameworks like MiCA, we believe that Taiwan could take a more nuanced approach specific to their own market.