In the upcoming presidential election in Taiwan, Wu Hsin-ying, the vice presidential candidate of the People’s Party, proposed strengthening cybersecurity measures to address fraud issues during a policy presentation. She suggested adopting the General Data Protection Regulation (GDPR) of the European Union to enhance personal data protection in Taiwan, and advocated for regulating virtual currency transactions to reduce fraud cases.
Title: Introducing EU’s GDPR to Empower Individuals’ Control over Their Data
Subtitle: Proposing Regulation on Virtual Currency Transactions to Reduce Fraud
With the Taiwan presidential election scheduled for January 13, 2024, less than a month away, the three pairs of presidential and vice-presidential candidates, including Lai Ching-te and Hsiao Mei-chin from the Democratic Progressive Party, Hou You-yi and Chao Shao-kang from the Kuomintang, and Ko Wen-je and Wu Hsin-ying from the People’s Party, have completed their policy presentations.
During the vice-presidential policy presentation, Wu Hsin-ying, the candidate from the People’s Party, emphasized the importance of digital and green transformation for Taiwan’s economy and proposed strengthening cybersecurity measures to address fraud issues. Firstly, she advocated for the adoption of the European Union’s General Data Protection Regulation (GDPR) to address Taiwan’s serious data leakage problems.
This statement aligns with the spirit of individuals’ ownership of personal data in Web3.
Secondly, she mentioned the severity of fraud issues in Taiwan, with many cases involving virtual currency transactions. She emphasized that Taiwan currently lags behind international standards in regulating virtual currency transactions and preventing money laundering. Therefore, she proposed bringing virtual currency transactions under government regulation, which would not only increase government revenue but also protect taxpayers.
In conclusion, Wu Hsin-ying believes that strict regulation of virtual currency can effectively combat fraudulent crimes and reduce fraud cases. Additionally, she emphasized the immediate need for digital transformation in Taiwan to enhance the resilience of the digital environment and establish convenient digital services. She pointed out that digital transformation will impact various aspects of society, and the application of artificial intelligence has brought significant influence.
She mentioned that she has proposed three bills in the Legislative Yuan: Personal Data Protection Act, Information Security Management Act, and Artificial Intelligence Foundation Act, to support this transformation. However, she also mentioned that due to the limited number of seats held by the People’s Party in the Legislative Yuan, the progress of these bills has encountered difficulties.
During the presidential and vice-presidential policy presentation, Wu Hsin-ying was the only candidate who directly mentioned cryptocurrency and Web3 concepts. Ko Wen-je also mentioned fraud issues, particularly bank nominee accounts and the IMB fraud case. He questioned the actions of the Financial Supervisory Commission and the Ministry of Digital Development and advocated for promoting national digital transformation. He suggested holding a national digital transformation conference for interdepartmental integration.
Related Readings:
P2P lending platform IMB runs off! Sheng Chu-ju supports, NTU finance student claims loss of 2.7 million savings
Related Reports
2024 Taiwan Presidential Election: Who Embraces Web3? An Overview of Ko Wen-je, Lai Ching-te, Hou You-yi’s Blockchain and Cryptocurrency Policies
Taiwan 2024 Election: Ko Wen-je Supports Blockchain Innovation, Calls for Transparency in “Campaign Funds” to Avoid Insults from Media Personalities
Darknet Leak of Personal Data Includes “Presidents and Vice Presidents,” University Students Arrested for Selling at Only $17
Tags:
Web3
Cryptocurrency Policies
Taiwan Presidential Election
Wu Hsin-ying
Ko Wen-je