Why the taiwan government for prepare for crypto collapse

Why the taiwan government for prepare for crypto collapse

- February 06, 2018

Why the Taiwan government for prepare for crypto collapse

An official of the Taiwan government in a senior position is pleading with the government to take preventative measures of the cryptocurrency collapse and how it will be horrendous for the islands financial stability.

he was speaking at a seminar when he addressed the problems of other countries trying to collapse the currency instead of embracing it as Canada did. he said that the rapid development of the currencies should be explored and perhaps explore the possibilities of implementing the currencies into their stock exchange. the senior official said that the market cap of bitcoin was about 160 million dollars and it was trading at a very attractive 10,000 dollars which equals a third of Taiwan's foreign exchange reserve and twice of the governments financial budget (when it was trading at 10k and market cap was 160 billion.)

people think that the cryptocurrency is in a major bubble and the price drop itself does not necessarily mean that in this particular case at all.

to end his talk he finished up by saying the government should take measures of exploring it is well prepared to handle a severe drop in price or a totally collapse of the currency

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