Government agencies plan to bolster cross-departmental efforts to target criminal activities at their source, Premier Su Tseng-chang (蘇貞昌) told legislators after New Power Party (NPP) Legislator Chiu Hsien-chih (邱顯智) expressed concern that Taiwanese laws are too conservative in dealing with cryptocurrencies.
The Global Anti-Scam Organization and victims of cryptocurrency scams have criticized Taiwan’s prosecutors and law enforcement officials for being reluctant to contact cryptocurrency exchange platforms for assistance, Chiu said.
Chiu commended the government’s efforts in fighting recent Cambodia-based fraud rings, but said that more must be done to enable law enforcement agencies to freeze cryptocurrency transactions, which is a primary method of transferring funds for illicit activities.
Photo: Reuters
The Criminal Investigation Bureau is waiting until this month to file its first-ever request to freeze cryptocurrency transactions, while other countries can already take such measures, Chiu said.
The bureau reasons that there is no legal basis or precedent for taking such action, he said.
Regarding the assets the bureau is looking to freeze, the cryptocurrency exchanges are based offshore and the electronic wallets are not owned by Taiwanese, creating problems in jurisdiction and making notices difficult to deliver, Chiu said, citing bureau officials.
Photo: CNA
However, the journal Criminal Policies and Crime Prevention in December last year said that transactions using blockchain technology are transparent at every level, and it is possible to track down the recipient of the funds, he said.
Cryptocurrency exchanges have demonstrated a willingness to work with law enforcement, Chiu said, citing the example of Binance, the exchange with the world’s largest daily trading volume, which has established a search-and-assist system used by law enforcement agencies.
Binance’s system supports traditional Chinese language searches, he added.
Taiwan’s law enforcement agencies have shown less commitment than cryptocurrency agents in tackling fraud, Chiu said.
Minister of Justice Tsai Ching-hsiang (蔡清祥) said that the High Prosecutors’ Office is collaborating with cryptocurrency exchanges, and can access transaction data.
The Ministry of Justice operates a staff education program that involves overseas training, which would aid prosecutors.
Su said that the government is striving to ensure that criminal cryptocurrency activity is controlled and regulated.
FREEDOM OF NAVIGATION: The UK would continue to reinforce ties with Taiwan ‘in a wide range of areas’ as a part of a ‘strong unofficial relationship,’ a paper said The UK plans to conduct more freedom of navigation operations in the Taiwan Strait and the South China Sea, British Secretary of State for Foreign, Commonwealth and Development Affairs David Lammy told the British House of Commons on Tuesday. British Member of Parliament Desmond Swayne said that the Royal Navy’s HMS Spey had passed through the Taiwan Strait “in pursuit of vital international freedom of navigation in the South China Sea.” Swayne asked Lammy whether he agreed that it was “proper and lawful” to do so, and if the UK would continue to carry out similar operations. Lammy replied “yes” to both questions. The
‘OF COURSE A COUNTRY’: The president outlined that Taiwan has all the necessary features of a nation, including citizens, land, government and sovereignty President William Lai (賴清德) discussed the meaning of “nation” during a speech in New Taipei City last night, emphasizing that Taiwan is a country as he condemned China’s misinterpretation of UN Resolution 2758. The speech was the first in a series of 10 that Lai is scheduled to give across Taiwan. It is the responsibility of Taiwanese citizens to stand united to defend their national sovereignty, democracy, liberty, way of life and the future of the next generation, Lai said. This is the most important legacy the people of this era could pass on to future generations, he said. Lai went on to discuss
AMENDMENT: Climate change is expected to increase the frequency of high-temperature days, affecting economic productivity and public health, experts said The Central Weather Administration (CWA) is considering amending the Meteorological Act (氣象法) to classify “high temperatures” as “hazardous weather,” providing a legal basis for work or school closures due to extreme heat. CWA Administrator Lu Kuo-chen (呂國臣) yesterday said the agency plans to submit the proposed amendments to the Executive Yuan for review in the fourth quarter this year. The CWA has been monitoring high-temperature trends for an extended period, and the agency contributes scientific data to the recently established High Temperature Response Alliance led by the Ministry of Environment, Lu said. The data include temperature, humidity, radiation intensity and ambient wind,
SECOND SPEECH: All political parties should work together to defend democracy, protect Taiwan and resist the CCP, despite their differences, the president said President William Lai (賴清德) yesterday discussed how pro-Taiwan and pro-Republic of China (ROC) groups can agree to maintain solidarity on the issue of protecting Taiwan and resisting the Chinese Communist Party (CCP). The talk, delivered last night at Taoyuan’s Hakka Youth Association, was the second in a series of 10 that Lai is scheduled to give across Taiwan. Citing Taiwanese democracy pioneer Chiang Wei-shui’s (蔣渭水) slogan that solidarity brings strength, Lai said it was a call for political parties to find consensus amid disagreements on behalf of bettering the nation. All political parties should work together to defend democracy, protect Taiwan and resist
RSS