The disruptive innovation brought about by FinTech is reshaping the financial industry. FinTech, the fusion of the financial industry and the technology industry, is the catalyst for cross-industry and cross-domain integration, new business model innovations, new rules for competition, and a new data-driven economy. To embrace the challenges and opportunities, the Taiwan FinTech Association (TFTA) was founded in February, 2017 by more than a hundred companies and professionals. Its multifarious members (including financial institutions, FinTech companies, IT companies, universities, research institutions, law makers, formal ministers, and FSC officials) make a collaborative FinTech ecosystem possible. Through this FinTech ecosystem, we hope to stipulate disruptive innovation, share fruits of the innovation, create benign competition, collaborate with other industries, improve capabilities and competitiveness of the Taiwanese FinTech industry.
In order to promote the spirit of self-regulation, abide by the supervisory stipulations, enhance the business ethics and establish market disciplines, which are aimed at protecting the interests of the participating members, investors and consumers, leading to healthy development of blockchain industry, and guiding the development of cryptocurrency in a positive direction, we established the Blockchain & Cryptocurrency SRO.
Principle 1: Abiding by the rules Understanding and abiding by the self-regulations and the associated rules and regulations as stipulated by the supervisory/regulatory authorities. Behaviors in the form of self violations or aiding and abetting others in violating the rules and regulations are strictly prohibited.
Principle 2: Trustworthiness and Integrity Members must desist from behaviors that misguide, falsify, defraud, conflict with, and as a consequence, causing mistrust on the part of other market participants.
Principle 3: Prudent Administration Prudent administrators are obligated to exercise the due cares and accountabilities expected of them in strengthening systems robustness, protecting of data security and providing the best possible services.
Principle 4: Open and Transparent To enable investors to make adequate investment decisions, timely information must be provided to them, availing them of sufficient, transparent and most up-to-date information, while making sure they understand the associated risks. Additional information is also encouraged to be made available to them which is aimed at enabling the investors to make the optimal decisions.
Principle 5: Confidentiality Adequate care should be exercised to utilizing investors and consumers’ data. To help establish a foundation of trust with the aforementioned parties, the members are prohibited from revealing confidential or using in an improper manner their information.
Principle 6: Fair Competition Wanton destruction of competitors’ reputations, of common interests, or other types of unethical competition should be avoided.
It is thereby proclaimed that all the members of the self-regulatory body will endeavor to achieve the highest standard of behavioral guidelines, to promote the co-prosperity of all the participants of the blockchain and cryptocurrency industry, and to cultivate a law-abiding, benevolent market environment.
If you agree the declaration and want to initiate the SRO with us, you are welcome to fill the form and email to firstname.lastname@example.org. We will contact you for proceeding to the next steps.