Taiwan Control Yuan: Ministry of the Interior discusses that Virtual Money 'cannot be used for political donations', and in August, sent personnel to audit the election income and expenses of Ko Wen-je.

Taiwan's Control Yuan said yesterday (1) that after a study by the Ministry of the Interior, it was believed that the cross-border circulation of Virtual Money machines may lead to foreign forces intervening in Taiwan's political situation, and because political contributions need to be transparent and immediately used, the draft amendment to the Political Contributions Law regulates that Virtual Money cannot be used as a political contribution. (Synopsis: Taiwan's labor insurance bankruptcy alarm rings wildly, if embracing BTC can achieve a reversal victory? (Background supplement: Central Bank: Taiwan did not consider including BTC in forex deposit, Peng Jinlong announced that the virtual asset special law will be sent to the Legislative Yuan in June next year) In response to the Legislative Yuan's budget center pointed out that "the Supervision Yuan should conduct a comprehensive review of whether Virtual Money, donate is included, and whether the proportion of penalties is too low", Taiwan's Control Yuan issued a press release yesterday (1) in response, saying, The Control Yuan is the executive organ of the Political Contributions Law and is not the competent organ of the law, and doubts about the application of the law or gaps in the law must be interpreted by the competent authority, the Ministry of the Interior, or a draft amendment to the law must be submitted. Virtual Money should not be included in political contributions However, the Supervision Yuan added that regarding whether live broadcast hosts with the identity of proposed candidates can accept Douyin as political donations on live streaming platforms such as YouTobe, and whether live streaming platform Tokens are prohibited as political donation targets, the Supervision Yuan has submitted it to the Ministry of Home Affairs for consideration in December 2023. In addition, in terms of Virtual Money, after previous research by the Ministry of the Interior, it was believed that the cross-border circulation of Virtual Money machines may lead to the intervention of foreign forces in Taiwan's political situation, and because political contributions need to be transparent and immediately available, the draft amendment to the Political Contributions Law stipulates that Virtual Money cannot be used as a political contribution. In response to the issue of the proportion of punishments, the procuratorate continued to add that in the implementation of the Sunshine Four Laws, it has always adhered to the principle of advocating more than imposing penalties, and in order to let both parties of political donations and the public understand the laws and regulations on political donations, it continues to use video, online media and on-site explanations and other diversified methods to publicize in order to drop illegal cases. The Control Yuan continued to say that according to statistics, in 2020, 283 political donations totaling 28,411,994 yuan were returned to prospective candidates for the presidential and vice presidential elections, and 815 refunds totaling 73,227,927 yuan were handled by prospective candidates for the Legislative Council. The recipients of such lawful returns will not be punished in accordance with Article 15 of the Political Contributions Act. Therefore, the media's view that more than 50% of political contribution checks are not punished may not be familiar with the above provisions. Finally, the Control Yuan stated that the purpose of the Political Contributions Law is to promote the political participation of the people of Taiwan to ensure the fairness and impartiality of political activities: The normative purpose of the Political Contributions Law is to promote national political participation, ensure fairness and justice in political activities, and improve the development of democratic politics. The main mechanism of the law is to fully disclose the accounting reports of political contributions of political parties and prospective candidates, so as to supervise the whole people, and the punishment is only one of them. The Supervision Yuan Checks Ke Wenzhe's Political Contributions It is also worth mentioning that in August this year, the Supervision Yuan said that it had sent personnel to check the income and expenditure of the political contribution accounting reports reported by Ke Wenzhe and Wu Xinying. The Control Yuan pointed out that according to the Political Contributions Law, if it is found that it has not declared its income in accordance with the regulations, failed to issue receipts, failed to deposit funds into a special account, or falsely reported expenditures, it can be fined NT$60,000 to NT$1.2 million, and the amount not deposited into the special account may be confiscated; And if the audit process finds that the accountant has violated the regulations, the Supervision Yuan will also punish in accordance with the Accountants Law, and if there is a suspicion of a crime, it will be transferred to the procuratorate for investigation. Related reports went viral on the Internet to spread that Taiwan's exchange card withdrawal "Ke Wenzhe harmed", the community sour the god of Virtual Money, what is the truth? Taiwan's VASPVirtual Money operator will switch to a "full registration" system? The Financial Regulatory Commission intends to amend the law: increase the fine to 10 million, and bear criminal responsibility The chairman of the Financial Regulatory Commission is Peng Jinlong! NCCU professors insurance majors, can lead Taiwan's Virtual Money industry? "Taiwan's Control Yuan: The Ministry of the Interior Studied Virtual Money "No Political Donations", and in August sent personnel to check Ke Wenzhe's election income and expenditure" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Block Chain News Media".