The international industry summit "Taiwan Connecting with the World: Grasping the Web3 Revolution Wave" hosted by Binance, the world's largest virtual asset exchange by trading volume and registered users, and the Bitcoin and Virtual Asset Development Association, successfully concluded on July 9th.
The conference, centered on "Taiwan Connecting with the World", gathered nearly 200 participants, including heavyweight guests such as Executive Yuan Secretary-General Kung Ming-hsin, AIT Deputy Chief of Commercial Section Jeff Dutton, Binance CEO Richard Teng, Bitcoin and Virtual Asset Development Association Chairman Hsu Pei-ling, Honorary Chairman Lin Hong-yu, and World Liberty Financial Co-founder Zach Witkoff. They collectively discussed critical issues in virtual asset development and how Taiwan can participate in this global digital wave from different perspectives, aligning with the latest international trends, marking a crucial step for Taiwan in exploring international collaboration and development in the blockchain and virtual asset industry.
AIT US Taiwan Association Deputy Chief of Commercial Section Jeff Dutton's Speech
The event, titled 'Embracing New Technology: Unlimited Prospects for Virtual Assets', invited Executive Yuan Secretary-General Kung Ming-hsin and AIT Deputy Chief of Commercial Section Jeff Dutton to speak. Secretary-General Kung noted that under the Web3 wave, Taiwan must not only be present but actively engage. He emphasized that technological development should start with the end goal in mind, focusing on practical needs and application scenarios, and is optimistic about the future application potential of stablecoins in the digital economy. Jeff Dutton stated that US President Trump is promoting a series of policies to consolidate the United States' leadership in digital assets and financial technology, demonstrating the determination to become the "Global Crypto Capital". He acknowledged Taiwan's progress in regulatory innovation and looks forward to more exchanges and cooperation in the digital asset field, jointly building a robust, secure, and innovative digital asset ecosystem.
Taiwan from a Global Perspective: New Opportunities for Crypto Industry Collaboration
At the summit, Binance CEO Richard Teng shared observations on current virtual asset regulatory trends from a global market perspective. He pointed out that the US government's support for the crypto industry has profoundly influenced global layouts, prompting more market and institutional investors to actively enter this field. Globally, multiple countries and regions have approached Binance to discuss virtual asset reserves or industry regulatory frameworks. Teng noted that as regulation matures and institutional investors participate, the industry can move towards mainstream adoption. Binance will continue to expand its global layout and deepen cooperation with local partners and government departments. He is also optimistic about Taiwan's advantages in talent and technology, emphasizing Binance's willingness to actively participate in Taiwan's local Web3 ecosystem construction and collaboration.
Discussing Stablecoin Topics with World Liberty Financial
In this session, Zach Witkoff, co-founder of World Liberty Financial, a Web3 enterprise founded by the Trump family and issuer of the USD1 stablecoin, shared that stablecoins will be the "invisible layer" of modern payment systems. He emphasized that stablecoin applications are not due to popularity, but because the technology can reduce costs and increase efficiency for businesses. He indicated that USD1 will be more than just an asset, but a financial infrastructure that makes banks faster, smarter, and more customer-centric.
Regarding suggestions for Taiwan and regional development, Zach noted that establishing a collaborative and innovation-encouraging framework is an excellent starting point, such as creating sandboxes, rewarding experiments, and finding ways to connect public and private innovation. He believes Taiwan has a significant opportunity to become a leader in innovation and regulation. He also emphasized that "speed" and "integrity" are both indispensable, and the future belongs to regions that possess both characteristics.
In the panel discussion session of the summit, experts and industry representatives from different backgrounds and fields gathered to conduct in-depth discussions on key issues of virtual assets. In the panel "Large-Scale Custody: Building Institutional Confidence in a Tokenized World", the group explored new opportunities and challenges arising from current institutional-level custody and the rise of tokenization. Participants believed that both regulatory bodies and the industry are in a process of rapid learning and adjustment, and there will be more intersections and collaboration opportunities between traditional finance and the crypto industry in the future.
《Guarding the Digital Frontline: Virtual Assets, Artificial Intelligence, and the Future of Crime Fighting》
In this part of the discussion, the focus was on public-private partnerships and international cooperation in combating financial crimes, especially in the context of cross-border crimes. The participants also demonstrated a positive attitude towards virtual assets as an emerging financial technology, expecting to help the industry continue to develop positively on the basis of effective regulation and cooperation.
Deepening international connections, Taiwan embraces a critical moment for Web3. This summit not only built a bridge of exchange between international and local ecosystems but also further highlighted Taiwan's potential in the global digital economy wave. Through active dialogue and collaboration among industry, government, and academia, Taiwan hopes to establish an open, inclusive, and forward-looking innovative environment, and continue to align with international standards in regulations, technology, and applications, becoming a new hub of digital innovation in the Asia-Pacific region. The event organizers, Binance and the Bitcoin and Virtual Asset Development Association, will continue to dedicate themselves to promoting the robust development of Taiwan's Web3 industry and contribute to creating a more open, diverse, and secure ecosystem.
About Binance
Binance is a global leading blockchain ecosystem and the cryptocurrency trading platform with the highest global trading volume and number of registered users. Binance is trusted by over 275 million users in more than 100 countries due to its industry-leading security, transparency, trading engine speed, investor protection measures, and unparalleled digital asset product and service portfolio. Its service scope covers multiple fields including trading, finance, education, research, public welfare, payment, institutional services, and Web3 functions. Binance is committed to building an inclusive cryptocurrency ecosystem, using cryptocurrency as a core means to enhance global financial freedom and universal financial services.
About Bitcoin and Virtual Asset Development Association
The Bitcoin and Virtual Asset Development Association (BCDA) is a legally registered non-profit organization in Taiwan, dedicated to advocating for Bitcoin, promoting the development of the virtual asset industry and regulatory adaptation, and facilitating dialogue and international exchange among industry, government, and academia. The association regularly publishes industry reports, hosts international forums, strengthens Taiwan's trust and competitiveness in the global crypto industry, and is an important force in Taiwan's crypto industry.
