Taiwan Financial Management Association: Virtual currency applies to the Securities Exchange Act

On July 3, the announcement of the official website of the Taiwan Financial Management Association showed that the virtual currency would apply to the securities trading law and define the virtual currency. The original text of the announcement is as follows: 1. According to the first paragraph of Article 6 of the Securities Exchange Law, the verification of virtual currency of a securities nature is referred to as the securities of the Securities Exchange Act. 2. The term "virtual currency" of a securities nature refers to the use of cryptography and decentralized ledger technology or other similar technologies to recognize the value of digital storage, exchange or transfer, and is liquid and of the following investment nature: (1) The investor contributes capital. (2) Funding for a common cause or project. (3) The investor has the expectation of obtaining profits. (iv) Profits mainly depend on the efforts of the issuer or a third party.