Zhu Rongtai promises: By the end of the year, an audit of "how much Bitcoin the government has"! The central bank will submit an BTC reserve assessment report.

Today (11), during the Legislative Yuan’s General Financial Inquiry, legislator Ge Rujun focused on Bitcoin reserves, the VASP special law, and the subsequent disposal of confiscated Bitcoin assets. Premier Su Tseng-chang promised to complete an inventory of the total Bitcoin held by domestic agencies by the end of the year. (Background: Dividend taxes over 20,000 NT dollars face a 2.11% supplemental health insurance fee, Taiwan’s Executive Yuan temporarily delays response to public opinion and reduces intergenerational burden) (Additional background: Taiwan VASP special zone debut at the Jinbo Fair! 9 crypto trading firms gather, moving towards a compliant and fraud-preventive era) The U.S. government confiscated 127,000 Bitcoins from the Prince Group, worth over 15 billion USD, forcing countries to consider how to handle the subsequent disposal of seized digital assets. Today, during the Legislative Yuan’s General Financial Inquiry, three issues were brought to the table: how to handle crypto assets seized by the judiciary, whether Bitcoin should be included in the national reserves, and when the VASP special law will come into effect. Should confiscated Bitcoin be liquidated immediately? Domestic judicial authorities have seized large amounts of crypto assets but lack a unified handling mechanism. Legislator Ge Rujun mentioned during questioning that in 2024, prosecutors will seize approximately 146.4 million USD related to the Prince Group, and the U.S. Department of Justice has also seized Bitcoin worth 15 billion USD, indicating that cross-border fraud amounts are often in the hundreds of millions. Concerning the Bitcoin that has been confiscated but not yet liquidated, Ge Rujun suggested that the Taiwanese government should “hold onto it” for now, as Bitcoin may have high potential value. He recommended waiting until policies are complete before deciding whether to liquidate or include it in strategic reserves. Premier Su Tseng-chang agreed, stating that a report on the government’s Bitcoin holdings will be completed by the end of the year to provide answers to concerned members of society. The Central Bank’s Yang Jinlong: Submit Bitcoin Reserve Evaluation Report by Year-End Deutsche Bank predicts that by 2030, central banks will widely hold Bitcoin, viewing it as “a new cornerstone of modern financial security.” Eighteen U.S. states are already promoting Bitcoin inclusion in strategic reserves, emphasizing diversification to reduce risks associated with single currencies. During questioning, legislator Ge Rujun criticized the Bank of Taiwan’s March analysis report, “Bitcoin as Central Bank Reserve Asset or National Strategic Reserve,” claiming it is “behind international trends,” and warned that excessive foreign exchange reserves are concentrated in U.S. Treasuries, which could erode purchasing power if the NT dollar appreciates or the USD weakens. Bank Governor Yang Jinlong responded that “2030 is still far away,” indicating a cautious stance. However, after persistent questioning, Premier Su Tseng-chang and Yang Jinlong promised to submit an evaluation report with both pros and cons by the end of the year, marking the first time Bitcoin reserves are officially included in policy discussions. Image source: Office of Legislator Ge Rujun Progress of the VASP special law questioned The Financial Supervisory Commission submitted the draft “Virtual Asset Management Regulations” (VASP law) to the Executive Yuan in June. Five months later, there has been no progress. Licensed domestic operators worry about missing market windows, as the main law remains uncertain—will it be delayed until the next session? The draft includes eight sub-laws, with stablecoin regulation considered the most critical and sensitive part of current fintech development. Ge Rujun warned that delays in the main law could halt all sub-laws; Premier Su Tseng-chang and FSC’s Peng Jinlong responded with “caution,” emphasizing that stablecoins involve monetary sovereignty and require a complete framework before approval. Internationally, the U.S. GENIUS Act and Singapore’s related regulations have set reserve ratios and issuer thresholds, forming a stark contrast. Ge Rujun suggested that although Article 8 of the draft allows banks to operate virtual assets, the government should encourage banks to cooperate with VASPs, enabling traditional finance to accelerate innovation through externalized technology rather than creating hierarchical relationships. Before the questioning ended, Ge Rujun reminded that “the global financial landscape is reshuffling; virtual assets are no longer just speculative commodities but new battlegrounds for national security and financial sovereignty.” He pointed out that Taiwan’s semiconductor supply chain already occupies a key position globally. If the progress of crypto finance lags behind international developments, the local industry could miss out on the next wave of benefits. Related reports Jay Chou’s “Jianghu Pursuit Order”: Tax and legal concerns behind Taiwan’s crypto asset custody HOYA BIT shocks with new regulations: users can only withdraw to compliant VASPs and CMC’s top 30 exchanges Premier Su Tseng-chang promises: “By the end of the year, we will inventory how much Bitcoin the government holds!” The Central Bank will submit a Bitcoin reserve evaluation report. This article was first published on BlockTempo, the most influential blockchain news media.