The Taiwanese parliament has become an arena for a debate that may change the island country’s approach to cryptocurrencies. MP Ko Ju-Chun demands that bitcoin be included in the state’s strategic reserves, arguing that digital assets have ceased to be a speculative commodity and have become a battlefield for national security.
A breakthrough discussion in Parliament
During Tuesday’s financial interpellation, deputy speaker of parliament Ko Ju-Chun confronted central bank governor Yang Chin-long. When he stated that “2030 is still far away”, the MP replied by asking whether Taiwan can afford to delay given global changes.
Ko accused the administration of excessive caution bordering on laziness. She said the government should immediately update its assessment of bitcoin to reflect current realities rather than relying on outdated views of the digital asset.
The MP emphasized that since the state treasury is not currently struggling with a lack of funds, the confiscated cryptocurrencies can be kept. However, the condition is that a full inventory of the seized bitcoin is carried out – only then will it be possible to decide whether to sell or keep it.
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Taiwan between the US and China
Behind the debate lie deeper economic concerns. Taiwan’s foreign exchange reserves are about $600 billion, of which more than 80 percent is invested in U.S. treasury bonds. This means a strong dependence on the US dollar.
At the same time, the island’s economy remains linked to China through trade and supply chains. Bonnie Chang, host of the largest Chinese-language channel about cryptocurrencies, notes that this situation creates a specific concentration risk for a country in a sensitive geopolitical position.
Taiwan is heavily dependent on the dollar through its reserves and heavily dependent on the Chinese economic cycle through trade
– explains Chang.
Bitcoin could offer an alternative to diversify these dependencies.
Global forecasts are driving change
The Taiwanese debate does not take place in a vacuum. In September, the Deutsche Bank Research Institute published a forecast indicating that both gold and bitcoin could coexist on central bank balance sheets by 2030. This is a new reality that Taiwanese politicians cannot ignore.
Ko Ju-Chun warns that delaying action threatens the country’s monetary security, institutional credibility, innovation competitiveness and financial geopolitical resilience. It calls for the creation of a national storage system for confiscated bitcoin and the acceleration of cryptocurrency-friendly legislation.
Trauma after fraud
However, society’s reaction to these proposals may pose a significant obstacle. In Taiwan, any mention of cryptocurrencies evokes strong emotions, and society is still traumatized by fraud and high-profile scandals.
Chang emphasizes the need for financial education. Warns:
Without it, conversations in the political arena can easily devolve back into social fear
Prime Minister Cho Jung-tai pledged to publish an updated assessment of bitcoin as a strategic reserve and a full inventory report by the end of the year. Taiwan faces a choice between following the global trend or falling behind other jurisdictions experimenting with digital reserve diversification.
