Taiwan king of bitcoin in Asia? [according to expert]

Taiwan could fill the gap in the Asian cryptocurrency market that remains after the energetic measures in China and South Korea, says Alex Liu, senior executive of MaiCoin, one of the largest bitcoin brokers on the island.

"I would like Taiwan to be known as the ROC, except that this time it would be the Republic of Cryptography," he explained in a Bloomberg TV interview.

Regulators in Beijing and Seoul have been stifling trade in virtual currencies amid concern about the financial risk involved.

The robberies and frauds have been in focus in Asia, with around 500 billion dollars a currency called NEM stolen from Coincheck, one of the largest cryptocurrency bags in Japan, last week.

Liu said there is less chance of mass disappointments in Taiwan because "things are a little slower" there.

Bitcoin, the largest cryptocurrency, increased its value from less than a penny in 2010 to more than 19 thousand dollars last month before retreating to around 11 thousand dollars.

Liu expects more volatility in 2018, and believes that bitcoin will reach 50 thousand dollars by the end of the year.

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