How does Ge Ru-jun view the challenges of cryptocurrency industry development?

As the wave of digital finance sweeps across the globe, the development and regulation of virtual currencies have become the focal point of attention for various countries. On the 14th, the “Bitcoin National Reserve – 2025 Second Forum on Innovative and Derivative Product Regulatory Strategies” was grandly held, where in-depth discussions were conducted on the potential of cryptocurrency as national reserves, regulatory strategies for innovative financial products, and Taiwan’s development direction in this field.

After the event, Legislator Ge Ru-jun accepted a media interview, providing his professional insights on the challenges Taiwan faces in cryptocurrency regulation and industry development.

How to preserve Bitcoin as a national reserve?

Regarding the preservation of Bitcoin as a national reserve, Ge Ru-jun believes that this is not an insurmountable challenge. He pointed out that Taiwan has abundant talent in cybersecurity and cryptography, which should be sufficient to meet the preservation needs of digital assets.

Ge Ru-jun emphasized: “In fact, I believe that preserving virtual currency for a country is not necessarily more difficult than preserving our personal data.”

He stated that if the government has mature technology and experience in personal data protection, then preserving Bitcoin should not be an issue. Ge Ru-jun further indicated that Taiwan possesses strong potential in the research and development and industrialization of cryptocurrency-related technologies. He specifically mentioned that Taiwan’s startup Cybavo was acquired by Circle, becoming an important component of its ecosystem, which is a testament to Taiwan’s technological strength.

Additionally, he welcomed the participation of existing financial industries in cryptocurrency custody services, believing that this would help establish a more comprehensive digital asset preservation system.

Should cryptocurrency be taxed in the future?

The tax issues surrounding cryptocurrency have sparked heated discussions globally in recent years, and Taiwan is no exception. With the popularity of digital assets, investor attention to relevant tax regulations is increasing. However, due to the particularity of cryptocurrencies, their tax treatment is relatively complex, involving multiple aspects such as income tax and property transaction tax, which has led to widespread controversy. Online discussions regarding “should cryptocurrencies be taxed” and “how to levy reasonable taxes” have ignited fervent debates.

Ge Ru-jun believes that the key lies in the government’s attitude and policies towards this industry. He emphasized that if government policies contribute to industry development, then moderate taxation is reasonable. However, if the government focuses solely on regulation and control without providing substantial support, taxation may become an obstacle.

Ge Ru-jun pointed out: “If a government brings resistance to this industry, that is, it only regulates without developing, why should I pay them?” He believes that discussing cryptocurrency taxation is feasible, but the purpose should be to promote industry development rather than merely considering tax issues.

Moreover, Ge Ru-jun also questioned the government’s inconsistent attitude toward cryptocurrency policies. He believes that the government should not deny its value during a bear market and then rush to tax it during a bull market. He urged the government to adopt a more consistent and forward-looking attitude towards this industry to avoid confusing the public.

What are the next legislative plans?

Regarding the next legislative plans related to cryptocurrency, Ge Ru-jun believes that the most important task at this stage is to communicate fully with the government to enable a deeper understanding of the industry.

He emphasized: “Therefore, I am seizing this golden opportunity to communicate and interact with the government, conveying the correct viewpoints to them.” He believes that hasty legislation before the government truly understands the industry may lead to erroneous policies.

Ge Ru-jun also mentioned that if the specialized legal draft proposed by the Financial Supervisory Commission does not meet actual needs, he will work with other opposition party members to propose a more suitable version. However, he pointed out that regardless of how the final passed bill turns out, the new regulatory framework will inevitably have a certain degree of impact on the industry. He called on the industry to be well-prepared and maintain good communication with the government to shorten the transition period.

Additionally, Ge Ru-jun particularly emphasized that legislation should be aimed at encouraging innovation rather than merely imposing restrictions. “Otherwise, are we going to require KYC for MetaMask?” He cited this as an example to point out that if regulations require KYC for decentralized applications, it would severely hinder industry development.

He believes that lawmakers should fully consider the particularity of technology and avoid drafting overly harsh or unrealistic provisions.

International vision and Taiwan’s unique development

In the global competition for digital assets, how Taiwan positions itself to secure a place in the global blockchain landscape has become a focal point of attention.

Ge Ru-jun believes that Taiwan’s development in the cryptocurrency field has a unique international vision and potential. He pointed out that compared to other international financial centers, Taiwan’s development model leans more towards “self-regulation,” which allows Taiwan to strike a special balance between regulation and innovation.

He emphasized that Taiwan has an active developer community, a mature market, and an open attitude towards new technologies, all of which are advantages that allow Taiwan to stand out on the international stage.

However, Taiwan’s regulatory model still requires improvement, and the government should adopt a more open mindset to understand technology and provide appropriate management tools to truly leverage Taiwan’s unique advantages.