Officials say no bitcoin ban in effect as local convenience store chain prepares for its usage

Although bitcoin has yet to become a legal currency in Taiwan, a local convenience store chain is now willing to indirectly accept the virtual currency. Consumers will soon be able to use bitcoins to purchase coupons and have them printed at the shop to pay for goods. This convenience store chain launched a program last year that allowed consumers to top up their bitcoin wallet. Now consumers can even pay by using the digital currency saved in their e-wallet.Titan ChengBitoEx Founder, CEOThere are many foreigners in Taiwan. We hope they can conveniently purchase and use bitcoins. However, accepting such payments is controversial as bitcoin is not a legal currency regulated by the central bank.Tseng Ming-chungFSC MinisterIf bitcoin reverts to being considered a commodity rather than a currency, then the (FSC) and the central bank won’t need to regulate it. This convenience store chain is launching the service to attract consumers with Financial Supervisory Commission Minister Tseng Ming-chung saying there’s no law preventing such an action as long as no banks are involved.