Taiwan Could be Seeing a Digital Currency Boom

Taiwan Could be Seeing a Digital Currency Boom

The law of unintended consequence could be about to strike the Taiwanese government. At the end of September PayPal, the popular payment service, will prevent Taiwanese residents from sending or receiving funds from other Taiwanese PayPal users, due to recently introduced legislation. The legislation was brought in to better control virtual money flow, and the PayPal situation was just one result of the wording.

However, while most Asian countries including Taiwan continue to warn consumers of the danger of digital currency, Taiwan is actually one of the few places in the world Bitcoin can be purchased over the counter. This, combined with the legislation affecting the traditional fiat based payment services, could result in a rise in digital currency use in the near future.

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