There will be no withdrawals of intangible currencies in Taiwan any time soon.

The island’s financial regulator said Monday that physical teller machines for the virtual currency “will not appear” here, after Las Vegas-based RoboCoin, which makes bitcoin ATMs, reportedly said it had chosen Taiwan and Hong Kong as its first spots to expand in Asia.

“Bitcoin is not a legal tender. Banks should not accept savings in bitcoins and the FSC will not allow the installation of bitcoin ATMs in Taiwan,” Tseng Ming-chung, chairman of Taiwan’s Financial Supervisory Commission, told The Wall Street Journal on Monday….

RoboCoin launched its first bitcoin ATM in a Vancouver coffee shop in November, where it racked up 1 million Canadian dollars (US$941,500) in transactions in less than a month. ATM users can either buy or sell bitcoin through the machines.

Taiwan Rejects Bitcoin ATMs [WSJ MoneyBeat blog]
Robocoin sipping first 2 Bitcoin ATMs to Asia this month — and will ship 45 more by March [Venture Beat]

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Comments (4)

  1. Posted by Hank | January 7, 2014 at 12:27 PM

    I thought that Hongkong and Israel already made orders for bitcoin ATM's. I think this is a great development for bitcoin and will most certainly give bitcoin a boost and help it to get accepted mainstream. IMHO people generally don't really understand the basics of bitcoin.

    For everybody who want to practice with bitcoin, at the following website you can receive free bitcoins:
    http://freebitco.in/?r=202775

    All you have to to is fill out your bitcoinadress and create a password, there is no registration procedure. You receive free bitcoins every hour in some sort of lottery (up to +- 0.2 btc!). They really pay out. The fun part is that you can use your winnings to play higher/lower to win additional coins.

  2. Posted by Side Splitter | January 7, 2014 at 4:24 PM

    Saw some blog today offering TECHNICAL ANALYSIS for BITCOIN!

    — Comedy Moment 2014 Contender

  3. Posted by Bitcoin ATM | March 5, 2014 at 6:32 AM

    "This Bitcoin ATM Machine Bank is The Best Selling Money Banks products in this year tends to SOLD OUT VERY FAST"

  4. Posted by reddemo | April 5, 2014 at 7:42 AM

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