Taiwan Looks to Ban Purchasing Crypto Using Credit Cards

Taiwan is planning to prohibit buying cryptocurrencies with credit cards. Local media outlet Economic Daily reported on July 21, noting that the Financial Supervisory Commission (FSC) is behind these efforts. Reportedly, the regulator sent the Taiwan Association of Banks a letter earlier this month, warning the body about the speculative and risky nature of cryptos. According to the FSC letter, the cash flow in crypto is complex because it is difficult to monitor transactions. To this end, the regulator asked…