2024-03-20 10:24:15
In addition to the recent ETF craze across Taiwan, investors are also paying attention to the rise of cryptocurrency. However, after Bitcoin fell this week, the Financial Supervisory CommissionAnnouncecalling on the public to carefully assess the risks of participating in cryptocurrency asset transactions.
(Previous summary: The price keeps falling! Bitcoin fell by 61,500 to hit a two-week low, and 220,000 people liquidated their positions to exceed US$700 million)
(Background supplement: Calculation: How much is the real circulation of BTC? Will the Bitcoin ETF “buy out” the market?)
Not only has there been a craze for ETFs across Taiwan recently, many investors have also been attracted by the rising trend of cryptocurrencies this year. They originally had a wait-and-see attitude and are now considering joining the market. In view of this, the Financial Supervisory Commission today (20th)Announcecalling on the public to carefully assess the risks of participating in cryptocurrency asset transactions.
No intrinsic value, use overseas platforms with caution
The Financial Supervisory Commission emphasized in its announcement that virtual assets are highly speculative, are not real currencies, and have no intrinsic value. Their trading prices have no upper and lower limits and are prone to sharp fluctuations, so transaction risks are extremely high. The Financial Supervisory Commission recommends that the public should fully understand how it operates and carefully assess the risks they may face before participating in relevant transactions.
In addition, the Financial Supervisory Commission specifically pointed out that people who trade through overseas virtual asset trading platforms should be aware that these platforms may not be subject to legal supervision in Taiwan or foreign countries, and the relevant transaction information is not transparent enough, so the public is advised to be more cautious.
However, the Financial Supervisory Committee’s reminder seems to be later than during the rise of Bitcoin. When the price of Bitcoin climbed, the Financial Regulatory Commission issued no relevant warnings. It was not until this week that Bitcoin showed a downward trend that it issued a risk warning. The timing of this decision by the Financial Supervisory Commission has indeed raised questions in the crypto market community, questioning the Financial Supervisory Commission’s position on virtual asset price fluctuations and whether the timing is appropriate.
Is it forbidden to say that BTC investment defeats “fixed deposit”?
As the recent investment climate has become more risky, Huang Tianmu, chairman of the Financial Supervisory Commission, went to the Finance Committee to prepare a special report on the 18th.questionIn response to an Internet celebrity’s propaganda that “people should mortgage their money to buy ETFs,” Huang Tianmu responded that this approach is very risky, and the rise or fall of ETF constituent stocks is not determined by the issuing institution. The rise in performance in the past does not mean that it will rise in the future.
Huang Tianmu revealed that the Investment Trust and Investment Consultants Association is currently formulating self-regulatory regulations to strengthen the management of Internet celebrities in the investment industry and fund sales institutions. In order to cool down the 00940 100 billion fund craze, in the future Internet celebrities must clearly disclose “○○ Company-sponsored broadcasts” and other slogans are even prohibited from mentioning “beat fixed deposits” and “annualized interest rate” as advertisements. The Financial Supervisory Commission also believes that when making comparisons with fixed deposits, it is more important to disclose their The risks are far greater than fixed deposits, but many Internet celebrities have misled Chinese people into making wrong investments. Products with far greater risks than fixed deposits cannot be widely recommended to every consumer without sufficient risk disclosure.
On the other hand, regarding virtual asset platforms, Huang Tianmu said that at this stage, there are no regulations that restrict Internet celebrities from endorsing virtual assets. However, the Financial Supervisory Commission has outsourced the study of a special law for virtual assets. It is expected that a draft of the special law will be released after September this year. Let’s refer to international practice and consider whether this year’s draft law also prohibits Internet celebrities from mentioning the “annualized interest rate” of cryptocurrency.
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