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Taiwan says credit cards can’t be used to buy cryptoforkast.news/headlines/taiwan-cuts-credit-cards-from-being-used-to-buy-crypto/
21 sats \ 3 comments \ @cryptocoin 23 Jul 2022 bitcoin
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20 sats \ 0 replies \ @gms 23 Jul 2022
Makes sense, imagine someone buying shitcoins with a credit card. Do not spend more than you have, in case credit cards are shit too.
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0 sats \ 1 reply \ @cryptocoin OP 23 Jul 2022
The authority said credit cards should serve as a payment tool for consumption rather than a method for financial investment and speculative trading.
The regulator gave credit card acquirers three months to make adjustments to comply with the new requirements.
Meanwhile, Taiwan is mulling a central bank digital currency (CBDC), and last month completed trials of its prototype retail CBDC in technical simulations.
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0 sats \ 0 replies \ @cryptocoin OP 23 Jul 2022
Coindesk also reported on this, referencing the Forkast article as well:
After China's crackdown on crypto in 2021, Taiwan saw a rush of activity and was slated to emerge as the region's new crypto hub. However, the local crypto industry has gone quiet since.
Taiwan Set to Ban Crypto Purchases Using Credit Cards: Report https://www.coindesk.com/policy/2022/07/22/taiwan-set-to-ban-crypto-purchases-using-credit-cards-report/
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