Taiwan’s Government Says No To Bitcoin ATMs


Taiwan’s Financial Supervisory Commission (FSC) will not allow the installation of Bitcoin ATMs in the country because it believes Bitcoins are not a currency and should therefore not be accepted by individuals or banks as payment, said FSC chairman Tseng Ming-chung. Tseng Ming-chung’s statement was reported yesterday by the Central News Agency (link via Google Translate), Taiwan’s state-run news service.

TechCrunch’s John Biggs reported earlier this week that U.S.-based company Robocoin plans to bring its Bitcoin ATMs to Taiwan and Hong Kong as part of its global expansion plans. Robocoin CEO Jordan Kelley told us that “Bitcoin demand in Asia is amazing. We have many Asian countries seeking to enhance consumer capability to buy and sell Bitcoin securely and safely.” We’ve emailed Robocoin for comment about how the FSC’s ban will affect its plans in Asia.

Government attitudes toward Bitcoin differ widely throughout Asia, but the FSC’s decision is yet…

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By humansmart

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