Online rumors abound; recently you may have heard that the Taiwanese government is asking Line to “delete all cryptocurrency communities,” but this is false!
(Background: Bito Technology was delisted by the Financial Supervisory Commission! Following the financial investigation, its compliance qualifications were also revoked, potentially preventing it from continuing operations.)
(Context: The Financial Supervisory Commission emphasizes that “Taiwan exchanges must thoroughly investigate money laundering” and expand financial investigations; the association urges compliance with regulations.)
Over the past two days, there has been rampant speculation on Threads claiming that “the Financial Supervisory Commission has requested Line to delete cryptocurrency groups,” with several small to medium-sized communities, including MAX Exchange and Elite Trading Academy, reportedly deleted. Below is an example of the rumor:
However, according to BitoPro Exchange’s verification with government agencies, this is a rumor and there is no such matter!
BitoPro announced in their group:
Regarding the recent online rumor that the regulatory authority has requested the deletion of cryptocurrency groups, BitoPro has actively verified with the regulatory authority, which has not contacted Line officials, nor requested the deletion of any cryptocurrency-related groups. Please do not believe unverified news.
CoinGecko also verified with legislators, the Financial Supervisory Commission, and the Criminal Investigation Bureau, all confirming that the regulatory authority has not requested Line to delete cryptocurrency communities. However, according to the Securities Investment Trust and Consulting Act, if a group is established online, soliciting investment reports, guiding trades, providing analysis, and charging fees, it may involve legal violations.
Is there a fraudulent agenda?
Some communities suspect that rumors claiming “cryptocurrency Line communities” will be deleted could be an attempt to mislead, potentially prompting prospective members to join harder-to-trace open platforms like Telegram, making subsequent fraud or illegal activities more difficult for Taiwanese law enforcement to track or gather evidence.
As for some Line communities being deleted, it is possible that they contained fraudulent or rumor content that was internally controlled and deleted by Line’s official system, or that users reported them leading to their deletion.
