Taiwan Policy Platform initiated the 'BTC Strategic Reserve' petition: Dollar-cost averaging into BTC, received 5000 supporting signatures in two months, demanding government response

On the Taiwan Public Policy Participation Platform, a proposal entitled 'Taiwan BTC Strategic Reserve Plan' has entered the seconding phase. The proposer suggested that the government's dedicated agency should accumulate BTC reserves through a long-term and steady purchasing strategy, initially using 0.1% of the GDP as a pilot and gradually increasing it. (Background: The Central Bank of Taiwan taunted El Salvador: It's ironic to abandon BTC Fiat Currency, netizens sarcastically commented 'running last but still daring to laugh at the first fall.') (Background: Central Bank: Taiwan did not consider including BTC in forex reserves, and Peng Jinlong announced that the Virtual Assets Act will be sent to the Legislative Yuan in June next year.) The plan to establish a 'BTC National Strategic Reserve' proposed by US President Trump has sparked extensive discussions among multiple states in the US, as well as various governments, central banks, and the public regarding the establishment of BTC reserves. This trend has now spread to Taiwan. A proposal entitled 'Taiwan BTC Strategic Reserve Plan' has recently appeared on the public policy participation platform in Taiwan, and the proposal has passed the platform's review and entered the seconding phase. The Public Policy Participation Platform (also known as the JOIN platform) is a citizen participation platform established by the National Development Council in February 2015, with the aim of promoting interactive discussions between the government and the public on public policies. Taiwan's private sector advocates for the establishment of a 'BTC strategic reserve.' The proposal wrote that in response to the changes in the global financial market, to enhance Taiwan's financial security and international competitiveness, it is proposed that the government establish a 'BTC strategic reserve mechanism' as part of the national digital asset reserves, reference the management method of 'gold reserves,' and gradually incorporate it into the fiscal policy and financial stability framework. According to the proposer YANSUG, the specific suggestions include: Establish a national BTC reserve mechanism designated by the Central Bank or the Ministry of Finance, with a dedicated agency responsible for accumulating BTC reserves in batches through a long-term and steady purchasing strategy (such as Dollar Cost Averaging, DCA) to avoid the impact of market fluctuations on capital allocation. The initial reserve target can be set, for example, using 0.1% of the GDP as a pilot and gradually increasing it. (Note: Taiwan's estimated overall GDP scale for the whole of 2024 is about 25 trillion New Taiwan coins. If 0.1% is used as a pilot purchase, it means that 25 billion New Taiwan coins may be used to purchase BTC in the initial stage.) Use BTC as a strategic financial tool. BTC can be used as part of forex reserve assets to reduce reliance on a single currency (such as the US dollar) and enhance Taiwan's financial independence. When international economic crises or financial turmoil occur, part of the BTC reserves can be used for emergency HedgingTradFi asset risks. Promote adjustments to regulations and supervisory frameworks. Refer to the regulatory approaches to digital assets by Central Banks in the US, Europe, and other regions, formulate the 'National Digital Asset Reserve Act' to ensure the legality and transparency of BTC reserves, establish professional supervisory agencies to ensure the security of BTC storage, and prevent asset loss or hacker attacks. Support the development of digital assets and blockchain industries. Government holding BTC can help increase market recognition, further attract domestic and foreign investments in the cryptocurrency industry, and promote Taiwan as a blockchain financial center in the Asia-Pacific region. Consider using part of the BTC reserves to generate income through Decentralized Finance (DeFi) tools to enhance capital efficiency. Improve the investment efficiency of government funds such as labor insurance, health insurance, and new labor retirement system. BlackRock, the world's largest asset management company, suggested in its latest investment outlook report that investors should include BTC in diversified asset investment portfolios, with the recommended allocation proportion reaching up to 2%. To balance risk and investment returns, government funds can initially adopt a small amount of investment as a pilot to enhance the investment efficiency of such funds. Can Taiwan's establishment of BTC reserves make it the center of Web3 in the Asia-Pacific region? The proposer further advocates that the establishment of BTC strategic reserves in Taiwan is expected to bring many benefits, such as: Strengthening the diversification of national finances and forex reserves: BTC can serve as an asset to combat inflation, HedgingFiat Currency depreciation risks, reduce Taiwan's reliance on a single currency (e.g., the US dollar), and enhance financial stability. Promoting the development of Taiwan's digital finance and blockchain industry: Government-reserved BTC can enhance international financial reputation, attract investments in blockchain and financial technology, indirectly promote the growth of the local blockchain industry, promote the legalization of digital assets, and accelerate the development of digital finance, making Taiwan a potential center for cryptocurrency and Web3 innovation in the Asia-Pacific region. Enhancing national economic resilience and future contingency capabilities: BTC plays a Hedging role during global financial crises or currency market fluctuations. If global currency policies shift towards digital currencies in the future, Taiwan can take the lead in possessing sufficient BTC reserves and experience, seizing market opportunities. Enhancing Taiwan's international influence and financial discourse power: Participating in the global BTC strategic reserve layout to avoid marginalization. Using the name of a BTC-friendly country to enhance Taiwan's tourism visibility. Become a case in 60 days with 5000 secondings According to regulations, if a public policy proposed by the public on the Public Policy Participation Platform receives more than 5000 secondings within 60 days after being opened for seconding, the agency responsible must respond on the platform within 60 days after the case is established and may also convene a meeting to discuss the proposal. Currently, the proposal is still more than 4800 secondings away from being established. If you also want to second the proposal, please register on the official website and pass the email and phone verification. The proposer YANSUG commented on the proposal: Whether the response will pass or be rejected is a victory. At least I can know the current ruling team and the next ruling team's stance on the encryption market in the next vote. Related reports: Central Bank of Taiwan looks down on BTC: 'Not digital gold,' lacks the three major functions of currency, more like gambling. The administrative special zone of Bhutan announced the inclusion of BTC, Ethereum, and BNB in the strategic reserve, CZ praised it as a wise move. Central Bank of Poland: Absolutely not accept BTC into the national reserves, BTCFluctuation is too high, poses huge uncontrollable risks. President of the Central Bank of the Czech Republic 'wants to buy 7 billion euros' worth of BTC: plans to invest 5% of the Central Bank's reserves in BTC. (Taiwan policy platform initiates 'BTC strategic reserve' petition: Dollar Cost Averaging BTC, receives 5000 secondings in two months, government needs to respond.) This article was first published on BlockTempo, the most influential blockchain news media in the world.