The Fintech Regulations (2019)

Author:The LCS FinTech Practice Group Attorneys

  LCS' FinTech practice team published the book - “Fintech Law and Development in Taiwan” in 2017. This book was the first book in Taiwan that comprehensively analyzes FinTech laws and regulations which has received positive feedback from the FinTech community in Taiwan.  The Amendment to the book was later published in 2018.
  Due to the rapid developments of the FinTech businesses in Taiwan, Taiwan’s regulator has adopted a series of new regulations and policies during the last few years. In view of this, in 2019 LCS published a new book - the “FinTech Regulations 2.0”.  This book demonstrates the leading experiences of our FinTech Practice Group in Taiwan.
  The topics of this new book include “The Post-Experimentation Phase of Taiwan’s Financial Regulatory Sandbox Regime”, “The Implications of the International Supervisory Technology Development”, “The Impact of Digital Identity on the Development of Fintech”, “The Future Perspective of Crypto-assets and Fundraising Regulations”, “The Development and Regulatory Issues concerning Cross-border Payments and Transfers”, “The Regulatory Progress of Peer-to-peer Online Lending and New Types of Wealth Management Services”, “The Opportunities and Challenges of Internet Banking in Taiwan”, and “The Key Regulatory Issues Regarding Open Banking”.  The book provides legal analysis on the latest issues of concern, with the hope of building a foundation for future dialogues between industries and the regulator.

Chapter 1: Overview
  • Introduction – facing the legal challenges of the developing financial technology
  • Study on the practices of Taiwan “Financial Technology Development and Innovative Experimentation Act” - based on the objectives of UK regulatory sandbox
  • Supervisory technology - the enabler for financial technology innovation
  • Introduction to the development of supervisory technology industry
  • The information security risk in the financial technology era - the challenges to the cloud trend in financial services
  • The essentials in the mechanisms of digital environment trust - Digital Identity
Chapter 2: Blockchain and Crypto-Asset
  • From ICO to STO - trends in regulation regarding security token fundraising
  • The criminal confiscation and enforcement on cryptocurrencies
Chapter 3: Electronic Payment and Cross-Border Transfer
  • The development of electronic payment in Taiwan from Sweden “Swish” perspective
  • New era of the “Yu Ebao” business model in Taiwan
  • Regulation issues regarding the development of cross-border and peer-to-peer transfer platform in Taiwan
  • Legal issues regarding the application of Distributed Ledger Technology (DLT) and cross-border payments between banks
Chapter 4: Peer-to-Peer Internet lending
  • The development and innovation of peer-to-peer lending platform in Taiwan
  • Recent development and regulation concerning foreign peer-to-peer internet lending platform
Chapter 5: New Types of Wealth Management Service
  • Legal aspects on the development of Robo-Advisor
  • Practical development and management measures concerning Robo-Advisor in the US
  • Legal limits concerning the development of Social Trading and Investing Platforms
Chapter 6: Internet-only Bank
  • An outlook on the opportunities and challenges of developing “Internet-only Bank” in Taiwan based on Europe experience
Chapter 7: Open Banking
  • The development of Open Banking regulation
  • Privacy protection issues under Open Banking
  • Data and Innovation - Intellectual property issues under Open Banking