Taiwan Warns Against Crypto Betting on Presidential Election Amid Investigation!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Dec 16, 2023 10:00

Residents of Taiwan have been warned against using cryptocurrency betting platforms to wager on the upcoming presidential election, as participating in election-related gambling activities is against the law. The advice comes amid an ongoing investigation, with several individuals already called for questioning. The decentralized betting platform Polymarket has reportedly been used by Taiwanese citizens to place bets on the election outcome, potentially violating Article 88-1 of the Election and Recall Act, which carries a potential six-month imprisonment, detention, or fine up to NT$100,000 ($3,188 USD).