The cryptocurrency industry in Taiwan has received approval from the local government to establish an industry association.

ChainCatcher news, according to The Block, Taiwan's "Ministry of the Interior" has approved the establishment of a cryptocurrency industry association. The working group is required to complete all preparations and officially establish the cryptocurrency industry association by the end of June.

The working group currently consists of 22 cryptocurrency companies, including major Taiwanese exchanges such as MaiCoin and BitoPro. The working group noted that it has removed ACE Exchange from the group, as this troubled exchange is under investigation by prosecutors due to alleged misconduct by former executives.