The Official Establishment of Taiwan Virtual Currency Association BitUN Cofounder Appointed as the First Chairman Formulating Selfdiscipline Regulations as the Top Priority Task

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Taiwan VASP Association Officially Established
Founder of Bitrue Appointed as First Chairman
The Taiwan Virtual Asset Platform and Exchange Business Association (VASP) was officially established on June 13th. The Virtual Currency Association is a “regulatory” association established in accordance with the Financial Supervisory Commission’s “Guidelines for the Management of Virtual Asset Platforms and Exchange Businesses (VASP)”, serving as the industry’s sole direct communication channel with the government.
The association stated in a press release that its primary task after establishment is to formulate a “Code of Conduct”, properly implement the classification and management of operators, build an industry chain and ecosystem, and meet government expectations while protecting consumer rights and industry development.
Huang Xihe, head of the Securities and Futures Bureau’s Securities Firms Management Division of the Financial Supervisory Commission, stated at the meeting:
In addition, Huang Xihe also emphasized that the Financial Supervisory Commission will enhance cooperation with the Virtual Currency Association in the future, work together to strengthen customer rights protection, improve the credibility and image of the entire industry, and promote the healthy development of the industry.
At the same time as the association’s establishment, 24 initiating operators also completed the first session of director and supervisor elections through voting, officially commencing operations.
The list of the first session of directors is as follows:
Board of Directors
Chairman: Zheng Guangtai | Bitrue Technology Co., Ltd. | Co-founder and CEO
Vice Chairman: Xiao Huizong | Chain Technology Co., Ltd. | Co-founder and group revenue chief
Executive Director: Wu Dewei | Coinray Co., Ltd. | Director
Director: Wang Shijie | Pioneer Digital Technology Co., Ltd. | CEO
Director: Li Dongyue | Xiahe Co., Ltd. | CEO
Director: Li Guorong | Coin Generation Technology Co., Ltd. | CEO
Director: Guo Changxun | Hongzhu Digital Co., Ltd. | General Manager
Director: Chen Jianming | Yilufa Co., Ltd. | Company Representative
Director: Huang Guansheng | Underworld International Management Consultants Co., Ltd. | Company Owner
Director: Liu Shiwei | Modern Wealth Technology Co., Ltd. | Founder and CEO
Director: Su Jianying | Cross-Chain Technology Co., Ltd. | CEO
Alternate Director: Yang Shuhui | Taiwan Zhijing Co., Ltd. | Operations Manager
Board of Supervisors
Executive Supervisor: Peng Yunxian | Heya Digital Technology Co., Ltd. | Founder and CEO
Supervisor: He Kuanyan | Yangle Co., Ltd. | Operations Manager
Supervisor: Su Xiuping | Sangfeist Co., Ltd. | Representative
Alternate Supervisor: Xie Mengzhe | Woheng Technology Co., Ltd. Taiwan Branch | Chairman
In addition, Cai Yuling, co-founder of Lici, was invited to serve as the association’s chief advisor. At the meeting, she expressed her hope that the association could become a good communication bridge with the regulatory authorities to solve industry problems effectively. She also reminded association members that they must become benchmarks in the industry, scrutinize themselves with high standards, and lead the industry towards the international stage.
Zheng Guangtai, the first chairman, also stated: