Taiwan’s legislative body, the Legislative Yuan, has taken initial steps towards cryptocurrency regulations with a new draft proposal — theVirtual Asset Management Ordinance — for the sector. Taiwan’s move to draft this comes as discussions about regulating this burgeoning sector gain momentum worldwide. Yung-Chang Chiang, a parliament member involved in proposing the act, told The Block, “After the first reading of the bill, discussions on the regulatory framework for the virtual asset industry have progressed to the next stage.” He expressed optimism about the Financial Supervisory Commissio…