Taiwan is preparing to issue a report on its Bitcoin holdings, signaling that officials are weighing whether the country should follow the United States in creating a national Bitcoin reserve.
Zhuo Rongtai, premier of the Republic of China (Taiwan), said the country is preparing a report to assess the total amount of Bitcoin (BTC) confiscated by domestic agencies.
The report will be issued before the end of the year, said Rongtai during a legislative general fiscal inquiry meeting with the Finance Committee on Tuesday.
When asked about the fate of the confiscated Bitcoin, legislator Ge Rujun proposed that Taiwan’s government “hold it unchanged” before deciding whether to liquidate the assets or include them in a strategic reserve, according to local media outlet Blocktempo.
Rongtai’s forthcoming report will also include a list of “pros and cons” for creating a strategic Bitcoin reserve, marking the first time Taiwanese officials have publicly considered BTC as a reserve asset.
The premier’s pledge to “study” Bitcoin for a strategic reserve asset and draft more Bitcoin-friendly regulations in the next six months is a “breakthrough” for the country, wrote Ko Ju-Chun, a lawmaker in Taiwan’s unicameral legislature, the Legislative Yuan, in a Tuesday X post.
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Governmental interest in Bitcoin started rising after March 7, when US President Donald Trump signed an executive order outlining a plan to create a Strategic Bitcoin Reserve, initially using cryptocurrency forfeited in government criminal cases, Cointelegraph reported.
The Bitcoin reserve marked the “first real step toward integrating Bitcoin into the fabric of global finance, acknowledging its role as a foundational asset for a more stable and sound monetary system,” said Joe Burnett, head of market research at Unchained, at the time.
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Taiwan legislators are calling for a Bitcoin reserve as a hedge against global uncertainty
While Taiwan has yet to make an official move, lawmakers have previously called for the creation of a Bitcoin reserve.
In May, Ju-Chun called for the government to consider adding Bitcoin to its national reserve, citing Bitcoin’s potential to serve as a hedge amid global economic uncertainty, during a speech to the Taiwanese government at the National Conference on May 9.
The lawmaker previously suggested a maximum allocation of 5% of Taiwan’s $50 billion reserve.
Taiwan has been exploring more crypto-friendly regulations to bolster institutional cryptocurrency adoption. In October 2024, the Financial Supervisory Commission (FSC) of Taiwan announced the launch of a trial for crypto custody services for financial institutions.
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