In the upcoming presidential election in Taiwan, Wu Hsin-ying, the vice presidential candidate of the People’s Party, proposed strengthening cybersecurity measures to address fraud issues during a policy presentation. She suggested implementing the General Data Protection Regulation (GDPR) of the European Union to enhance personal data protection in Taiwan and advocated for regulating cryptocurrency transactions to reduce fraud cases.
With the Taiwan presidential election scheduled for January 13, 2024, less than a month away, the three presidential and vice presidential candidate pairs, including Lai Ching-te and Hsiao Mei-chin from the Democratic Progressive Party, Hou Yu-ih and Chao Shao-kang from the Kuomintang, and Ko Wen-je and Wu Hsin-ying from the People’s Party, have completed their policy presentations.
During the vice presidential candidate’s policy presentation, Wu Hsin-ying of the People’s Party emphasized the importance of digital and green transformation for Taiwan’s economy and proposed strengthening cybersecurity measures to address fraud issues. Firstly, she advocated for the implementation of the GDPR, improving Taiwan’s serious issue of data leaks.
These remarks align with the spirit of individuals owning their data in Web3.
Secondly, she mentioned the serious problem of fraud in Taiwan, with many cases involving cryptocurrency transactions. She emphasized that Taiwan currently lags behind international standards in regulating cryptocurrency transactions and preventing money laundering. Therefore, she proposed bringing cryptocurrency transactions under government regulation, which would not only increase government revenue but also protect taxpayers.
In summary, Wu Hsin-ying believes that strict regulation of cryptocurrency can effectively combat fraud crimes and reduce fraud cases. Additionally, she emphasized the need for Taiwan to promote digital transformation immediately, enhancing the resilience of the digital environment and establishing convenient digital services. She pointed out that digital transformation will impact various aspects of society, with significant implications from the application of artificial intelligence.
She mentioned that she has proposed three bills in the Legislative Yuan: Personal Data Protection Act, Information and Communication Security Management Act, and Artificial Intelligence Basic Law, to support this transformation. However, she also mentioned that due to the limited number of seats held by the People’s Party in the Legislative Yuan, the progress of these bills has encountered difficulties.
During the presidential and vice presidential policy presentation, Wu Hsin-ying was the only candidate to directly mention cryptocurrency and Web3 concepts. Ko Wen-je also addressed fraud issues, particularly regarding bank dummy accounts and the IMB fraud case. He questioned the actions of the Financial Supervisory Commission and the National Development Council and advocated for promoting national digital transformation, suggesting the convening of a national digital transformation conference for interdepartmental integration.
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Web3
Cryptocurrency Policies
Taiwan Presidential Election
Wu Hsin-ying
Ko Wen-je