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Housing, construction loans continue to rise

Housing, construction loans continue to rise By Kao Shih-ching / Staff reporter Despite credit-tightening moves by the central bank, housing and construction loans climbed to NT$8.16 trillion (US$292.4 billion) and NT$2.87 trillion respectively in March, extending the previous month’s uptrend, data compiled by the Financial Supervisory Commission showed on Thursday. Housing loans in March increased by NT$54.4 billion, or 0.6 percent, from a month earlier, easily outpacing February’s increase of NT$25.3, or 0.3 percent, the data showed. Construction loans, an indicator of real-estate developers’ confidence in the sector, also grew at a faster pace in March, increasing by NT$23.2 billion, or 0.8 percent, compared with February’s gain of NT$18.1 billion, the data showed.

New cryptocurrency rules to take effect on July 1

New cryptocurrency rules to take effect on July 1 NO MONEY LAUNDERING: Banking Bureau Deputy Director-General Lin Chih-chi said transactions of more than NT$500,000 conducted in cash would need to be reported By Kao Shih-ching / Staff reporter The Financial Supervisory Commission is to set up new money laundering regulations for the nation’s cryptocurrency exchanges from July 1, requiring them to report transactions valued at more than NT$500,000 (US$17,770), the commission said yesterday. The move came after the Executive Yuan earlier this month demanded that the commission establish regulations to prevent money laundering in the cryptocurrency industry. The cryptocurrency industry includes local trading platforms for cryptocurrencies, cryptocurrency wallet providers and firms that conduct security token offerings, the Executive Yuan said.

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