TAIPEI (TVBS News) — The Central Bank of the Republic of China (CBC) on Wednesday (Jan. 3) clarified that issuing inauguration commemorative coins is under the authority and wish of the elected president, and the CBC only assists in this process, respecting the will of the elected figure.
Until now, the usual practice has been the issuance of gold and silver coins, the CBC explained.
The bank was responding to a suggestion made by Former Premier Sean Chen, who suggested issuing a token composed of Non-Fungible Tokens (NFTs) for the incoming president in 2024.
If this idea is implemented, it will be a global first, Chen said.
CBC officials commented that digital assets, such as NFTs, still bear several risks, including transactional challenges, anti-money laundering practices, and legal issues.
The CBC is actively studying these risks, hoping to clarify and mitigate them as much as possible to protect the public's rights and interests.
In his proposition, Chen also specifically mentioned last year's CBC plan to solicit opinions on its digital currency initiative publicly.
The conclusion of this consultation process is set for the end of April 2024, signifying that the central bank is indeed engaged in researching Central Bank Digital Currencies (CBDC) and is proactively seeking public input.