What Happened?
Recently, there was a message circulating in the Taiwan cryptocurrency community claiming that the Financial Supervisory Commission (FSC) and the police jointly requested LINE to delete groups containing keywords such as “cryptocurrency” and “USDT.” This means that not only investment groups of all sizes but even legitimate technical discussion groups could be deleted. Within the cryptocurrency community, there were reports of several LINE groups already being disbanded.
After Taiwan compliant exchange Bito sought confirmation from the FSC and the police, relevant government agencies categorically denied ever making such requests to delete groups, confirming that the rumor was false information.
Taiwan’s Cryptocurrency Community in Turmoil Over LINE Group Disbandment
On the social platform Threads, a user named “bird.caged” posted 8 hours ago claiming that the FSC and the police had requested LINE to remove groups with specific cryptocurrency-related keywords.
The user also claimed that groups including MAX, Elite Trading Academy branches, and several small and medium-sized cryptocurrency groups on LINE had been disbanded due to this incident.
This news quickly spread within Taiwan’s cryptocurrency community, causing many users to worry about the future development environment of cryptocurrency in Taiwan. Many community members lamented that Taiwan’s regulatory attitude towards cryptocurrency seemed to be getting stricter, with some even considering moving their operations or personal development overseas or shifting group discussions to Telegram.
Misinformation Confirmed After Multiple Verification
Cryptocurrencies, due to their anonymity and cross-border nature, are often used by criminals for fraud and money laundering, a concern shared by regulators worldwide. However, the rumor that caused widespread concern and panic within the community has been confirmed as false after multiple verifications.
After contacting the FSC, the official response was that they “did not request the deletion of any groups related to cryptocurrencies.”
Taiwan’s cryptocurrency exchange Bito also confirmed with regulatory authorities that there was no contact with LINE officials and no request to delete any cryptocurrency-related groups.
Blockchain influencer “Guicai Ashui” posted on Threads that after the incident, they contacted legislator Huang Jie and asked for assistance in verifying with the FSC and the police. Both the FSC and the police explicitly confirmed that “there is no such thing” and denied ever requesting LINE to delete any groups related to cryptocurrencies.
The result of this multi-faceted verification completely overturned the rumors about government agencies requesting LINE to delete cryptocurrency groups.
Although Taiwan’s regulatory attitude towards cryptocurrencies is indeed becoming more rigorous and clear, gradually establishing relevant management regulations, the specific rumor about the large-scale deletion of LINE groups has been confirmed as misinformation. Community members should remain vigilant and carefully discern various messages circulating on the internet.