In Taiwan, A Politician Has Accepted The First Ever Bitcoin Donation

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In Taiwan, A Politician Has Accepted The First Ever Bitcoin Donation

The vigorous political system in Taiwan continues to foster curiosity, dialogue, and even using cryptocurrencies, as extra folks specific an curiosity in technological innovation. 


Officers in Taiwan have taken a marked curiosity in digital forex and blockchain. Dialogue and dialogue about each applied sciences has made its presence felt within the political sphere.

In April, Bitcoinist reported that the Asian nation was set to introduce clearly outlined digital forex laws specializing in combating cash laundering. On the time, Justice Minister Qui Taisan stated the brand new guidelines could be totally in place by November.

Over the following months, a rising variety of political figures, like ‘Crypto Congressman’ Jason Hsu, and most lately, Taipei Metropolis Council candidate Hsiao Hsin-Chen, have spoken about the advantages of technological innovation and digital forex, each in and out of doors of Taiwanese politics.

Crypto Might Assist Preserve Politics Clear 

Just lately, a candidate for the Taipei Metropolis Council stated he accepted a donation in Bitcoin (BTC) zerozero that amounted to about US$325 on the time (roughly NT$ 10,000).

Candidate Hsiao Hsin-Chen famous that he was open to accepting digital forex in August. Hsin-Chen additionally stated the contribution was important as a result of cryptocurrencies will help hold the nation’s political system clear because of publicly-recorded transactions.

Candidate Hsiao is focusing the majority of his marketing campaign on technological innovation and eliminating corrupt monetary practices from the political system.

In keeping with Taiwanese regulation, nameless contributions are usually not allowed to exceed US$325. Because the fluctuating nature of cryptocurrency might ultimately render a donation increased than the restrict, the Management Yuan watchdog company suggests a number of choices if the worth goes up.

Within the identify of transparency, the Management Yuan suggests candidates ought to both flip over extra cash to them if the donor is nameless, or simply return the quantity to the donor if they’re able to be recognized.

A Tradition Of Innovation Continues

The professional-technology platform of Candidate Hsiao appears to echo one other well-known Taiwanese political determine, “Crypto Congressman” Jason Hsu.

After turning into a Member of Parliament in 2016, Hsu has targeted his work on innovative applied sciences like autonomous autos, cryptocurrency, and blockchain.

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