Taiwan

2026全球名家瞭望／穩定幣創新迷思與金融風險

United Daily News | Local Language | News | Jan. 23, 2026 | UndeterminedFinancial System Problems

Cryptocurrencies remain controversial, divided between unsecured types like Bitcoin and Ether, which depend solely on public belief, and stablecoins, which are backed by real-world assets such as dollars or Treasury bills. Both face critical questions of viability and societal benefit, with the consensus that cryptocurrencies generally do not provide public benefits and contribute to issues like tax evasion, money laundering, illicit financing, and lack investor protections.

Stablecoins assert full backing by reserves and promise the efficiency of digital tokens with traditional money's stability. However, doubts persist about compliance with these claims, potential investments in riskier assets, and political tensions surrounding regulation, especially between the United States' light-touch approach and stricter rules elsewhere. Risks such as massive runs on stablecoins due to doubts about collateral or liquidity remain significant, and a shift of deposits from traditional banks to stablecoins raises concerns about the future of bank lending.

Despite these challenges, stablecoins meet a real demand for faster, cheaper, and programmable payment systems. Three competing digital currency models aim to serve this market: decentralized cryptocurrencies, privately issued corporate currencies, and state-guaranteed digital fiat currencies. The latter may be implemented through public-private partnerships or central bank digital currencies (CBDCs), with key principles including inclusiveness, low cost, API openness for innovation, privacy protection, avoidance of disintermediation, and insured deposit status with holding limits.

Public oversight, prudential regulation, and accountability are crucial to ensure innovation strengthens economic fundamentals and prevents financial instability. Unsecured tokens and loosely regulated stablecoins must be curtailed before they integrate into the shadow banking system. The future of money should balance private innovation with public purpose, aiming for digital currencies that serve society rather than perpetuate risky speculation.

黃國昌：卓榮泰說辯論馬上龜縮 賴清德是不是考慮親自上陣

United Daily News | Local Language | News | Jan. 23, 2026 | UndeterminedPolitics and Elections

Taiwan’s general budget for 2026 remains stalled in the Legislative Yuan. Premier Cho Jung-tai initially proposed a direct public debate to resolve the impasse but withdrew after opposition lawmakers accepted the challenge. Huang Kuo-chang, chief convener of the Taiwan People’s Party legislative caucus, criticized Cho for lacking courage and responsibility, suggesting that President Lai Ching-te might need to personally step in to address the issue.

Huang also called for the special act concerning U.S. arms purchases, totaling NT$1.25 trillion, to be included in the debate. He offered to publicly debate President Lai on this topic, promising that if the public sided with Lai’s position, the Taiwan People’s Party would support the Executive Yuan’s version of the arms-purchase legislation. Huang emphasized the importance of clarifying whether paying for weapons without their delivery truly strengthens national defense.

Additionally, opposition parties submitted a proposal to release funds for 38 emerging project budgets, which has already progressed to a second reading and negotiation phase. Huang criticized the ruling Democratic Progressive Party for what he sees as a lack of urgency and willingness to address livelihood-related items, accusing them of prioritizing political struggle over the needs of the people.

對美投資2500億美元信保 施俊吉：潛在GDP先扣15兆台幣

United Daily News | Local Language | News | Jan. 23, 2026 | UndeterminedFinancial System Problems

Taiwan and the United States have reached a consensus on tariffs that includes the Taiwanese government providing corporate credit guarantees of up to US$250 billion. Executive Yuan Premier Zhuo Rong-tai clarified that this is not a corporate investment quota and cannot be combined with another US$250 billion to total US$500 billion. Former Vice Premier Shih Chun-Chi used a metaphor to explain that while direct investment and credit guarantees cannot be numerically added as the same type of investment, their monetary value can be combined.

Shih emphasized that the US$250 billion in credit guarantees will be invested in the United States and therefore cannot be counted within Taiwan’s GDP. He projected that Taiwan’s potential GDP may initially decrease by NT$15 trillion, as the added value generated by these investments will occur abroad rather than domestically. Shih explained that the U.S. Department of Commerce treats direct investments and credit guarantees as separate commitments with different economic implications.

He highlighted that while Taiwanese companies’ direct investments of at least US$250 billion in the U.S. eye factory expansions, the credit guarantees of another US$250 billion support additional investments. Taiwan's GDP reflects added value created domestically within a year, so investments abroad reduce Taiwan’s potential GDP. According to Shih, Taiwan loses not only the immediate investment capital but also the future economic benefits this capital could have produced domestically.

Shih called on Taiwan’s National Development Council and the Chung‑Hua Institution for Economic Research to calculate and publicly disclose the detailed economic impacts, including the monetary loss in potential GDP, the decline in GDP growth rate, reductions in fiscal and tax revenue, and plans for addressing the resulting fiscal gap.