Considering its effect on Taiwan, the TPP caucus yesterday held a news conference at the legislature to call for better financial literacy. Awareness of the risks of investing in the cryptocurrency market is insufficient among Taiwanese, TPP Legislator Jang Chyi-lu (張其祿) said. Most Taiwanese affected by the FTX collapse were students and people with limited funds, TPP Legislator Cynthia Wu (吳欣盈) said, citing a local self-help association. This year’s Taiwan Financial Lives Survey by the Taiwan Academy of Banking and Finance showed a decline in financial resilience and literacy among young people compared with two years ago, she added. TPP Legislator Chen Wan-hui (陳琬惠) accused the Ministry of Digital Affairs of “doing nothing” in response to the FTX collapse, despite regulation of the digital economy falling under its purview.

Source: Taipei Times December 30, 2022 10:33 UTC