According to Bloomberg, people familiar with the matter have reported that Taiwan’s second-largest telecommunications company, Taiwan Mobile, is exploring partnerships with local crypto platforms. The state-licensed telecommunications provider is in the early stages of negotiations with crypto companies regarding potential alliances.
Taiwan Mobile said it was “open to any potential opportunities” but declined to comment further. Wayne Huang, co-founder of XREX, declined to comment on whether his company is in talks with the island’s second-largest telecommunications firm. However, he expects that as the Web3 sector matures and regulatory requirements become clearer, it will include larger organizations.
In March, Taiwan selected the Financial Supervisory Commission (FSC) as the main regulator of virtual asset service providers. By the end of September, the commission plans to provide precise regulatory guidance. According to reports, the FSC will not regulate non-fungible tokens (NFTs) as they are still in their early stages of development as an asset class and it is too early to control them.