--- title: 'Taiwan''s Crypto Law Sparks Bull Run? (Russia, USA)' source: 'https://youtube.com/watch?v=WNZj6GhKsdk' video_id: 'WNZj6GhKsdk' date: 2026-08-06 duration_sec: 627 --- # Taiwan's Crypto Law Sparks Bull Run? (Russia, USA) > Source: [Taiwan's Crypto Law Sparks Bull Run? (Russia, USA)](https://youtube.com/watch?v=WNZj6GhKsdk) ## Summary The video discusses Taiwan's passage of the Virtual Asset Service Act, establishing a regulatory framework for crypto, and contrasts this with the US's slower progress. It also covers Bitcoin ETF outflows, whale buying activity, SEC Chair Paul Atkins' comments on 'Project Crypto', and Russia's plans to legalize crypto for international trade by September 2026. ### Key Points - **Taiwan Passes Crypto Law** [00:31] — Taiwan's legislator passes a law establishing a regulatory framework for the Bitcoin and crypto industry, marking a new era of digital finance. - **Virtual Asset Service Act Details** [01:04] — The Act requires customer asset segregation, information disclosure, and rules for platform listing/delisting. Stablecoin regulation and derivative products are also addressed, with continuous rolling revisions to align with international rules. - **Bitcoin ETF Outflows** [02:46] — Bitcoin ETF outflows are accelerating from the start of the year, with record withdrawals. Bloomberg Intelligence's James Seyffart provides perspective. - **ETF Outflow Data** [04:28] — Bitcoin ETFs are on track for the worst month of withdrawals, with $4.3 billion in outflows. Cumulative inflows peaked at $63 billion through October, with $30 billion from April to October. - **Whale Buying Spike** [05:19] — Despite ETF selling, there is the largest spike in whale holdings of Bitcoin ever, indicating that long-term holders are buying the dip. - **SEC Chair on Project Crypto** [06:16] — SEC Chair Paul Atkins announces 'Project Crypto', taking historic steps to modernize rules to facilitate markets moving on chain, providing certainty to digital asset issuers. - **Russia Legalizing Crypto** [07:50] — Russia's Central Bank announced plans to legalize Bitcoin and crypto for international trade, with the law potentially taking effect September 1st, 2026. ### Conclusion The video emphasizes that while the US lags in crypto regulation, other countries like Taiwan and Russia are advancing, suggesting the industry will grow significantly in the long term. ## Transcript Taiwan. >> A framework for aligning key definitions. >> An update on crypto in America from the >> To make America the crypto capital. >> Why price continues to crash. attention to. This month is pretty bad. >> And of course an update on Russia's Central Bank finally legalizing crypto for international trade. video per day keeping you informed. And in breaking news, Taiwan's legislator passes law establishing a regulatory framework for the Bitcoin and crypto industry. What the United States seems to be fumbling on, Taiwan just did. We are officially entering a new era of digital finance. Now, this is in a digital finance. Now, this is in a different language. watch the original, I will I just quote tweeted it. Go over to our X account original. But there is an AI >> Mr. Chairman, colleagues, I'm glad the Virtual Asset Service Act has finally passed its third reading today. This is a very important moment in Taiwan's financial history as it marks our official entry into a new era of digital finance. Combined with the AI Basic Act, it will further lead us into the era of AI finance. I'd like to specially thank Commissioner Lee Yen-hsiu, the convener of the Finance Committee, for gathering cross-party commissioners to listen to public opinion and the voices of the younger generation. Thanks also to the Central Bank, Ministry of Finance, Justice, Judicial Yuan, Police, and all administrative agencies for their help so that this bill could reach this point today. This is a historic project completed by the executive, legislature, industry, and society, and it's a win-win day for all. The spirit of this bill is clear. Fraud prevention is not meant to stifle innovation, nor should innovation sacrifice the safety of people's property. We require customer asset segregation, information disclosure, and rules for platform listing and delisting. For stablecoin regulation, we also demand that authorities no longer delay addressing derivative products. New services must align with international rules with continuous rolling revisions. I will also continue to track the progress of relevant subsidiary laws. After today, we will no longer just ask, "What are virtual assets?" Taiwan will begin to answer, "How responsible digital finance can go from Taiwan to the world?" History will remember this day as we establish verification and build trust through the law. Don't trust, just verify. Thank you, everyone. >> Bitcoin and crypto are global, and it is growing with or without the United States. Of course, many of you were asking me about this. Bitcoin ETF outflows accelerating from the start of the year. TradFi wants out. So, this is Bitcoin ETF flows cumulative. And there's mass exodus to the doors. >> Bitcoin ETFs are seeing record outflows. Strategy is pulling back. What do you that? >> Bloomberg Intelligence's James Seyffart has some really interesting perspective. You need to see this. Also, of course, we have the Russia update. But, let's just take 30 seconds and check out my long position on sponsor of the channel KELP SHE. I am up 17% on my trade. As we know, KELP SHE perpetuals are CFTC regulated. They were the first US company to offer perpetuals. I shared with you a walk-through on how to start trading perps as a beginner in 2026. Highly recommend. Link below. But, essentially, perps are a way for you to make money trading crypto whether the price goes up or down. So, if you think meme coins are going to zero or at least a lot lower, you can short meme coins, make money off that. If you're like me, you're a long Solana about 2 weeks ago, obviously there are risks. Again, I do a full walk-through, but special opportunity just for the Altcoin Daily Army, anybody that trades $10 gets $10 with Kalshi perps only with referral code down below. And for those bearish on Bitcoin thinking it's going to a lower, well, just in, Bitcoin ETFs on track for the worst month of withdrawals. I mean, the data is so clear and James Seyffart of Bloomberg has some very interesting insights. that were the buyers over, you know, with the preceding months from April known buyers, but you got to also realize when they were buying, uh if you look at the on-chain data, we saw a lot of what we people refer to whales, the Bitcoin. You can see their wallets on chain and they were selling. So, attention to. This month is pretty bad. I We're actually at 4.3 billion with the weren't included in that report yet. Uh you got to take You got to take a step back and look at what this is, right? Uh at the peak through October, these things had taken in about $63 billion. Uh they took in $30 from last April through October. So, they took in a ton but it's not like everything is running for the exits. It doesn't look good right now, but time will tell. >> So, the ETF investors are selling, but what's interesting is somebody's buying. This is the largest spike in whale holdings of Bitcoin ever. So, what's interesting to me is the same entities who sold the top, remember originally when Bitcoin price first started crash, they said, "Oh, it's the it's the early Bitcoin investors, the whales, the they're selling. They believe in the 4-year cycle. They're the ones driving the price down." And we see that right here, the the the whales, the OG Bitcoiners sold. At that same time, the ETF investors weren't sure yet. Now selling. This is probably because they just thought price would go up forever. were buying. They were new to this industry, crypto. Yet for the OGs who finally see Bitcoin price around 59,000, 62,000, Ethereum's price around 1,500, what do they understand that ETF investors may not? happened. This is an update from what we shared in our video yesterday. The SEC Chair, Paul Atkins, says the agency is taking historic steps to move US markets And I understand Let's go to the original. And I understand we've heard this before. But what SEC Chair, Paul Atkins, is about to say essentially is Atkins, is about to say essentially is what the Clarity Act is what the Clarity Act, right up here, is supposed to do. Now this would make it sticky. This would make it last past the current presidency. What the Clarity Act is supposed to do, the SEC, combined with the CFTC, is doing today. This is how markets move on chain. >> Over the past year, we have moved purposefully to answer President Trump's call to make America the crypto capital of the world. Through what we're calling Project Crypto, we are taking historic steps to modernize our rules and regulations to facilitate markets moving on chain. And after years of of obscurity, we have delivered long-called for certainty to digital asset issuers, so that investors and entrepreneurs today can know, before they act, whether a digital asset is considered a security and they're so subject to SEC oversight. To be clear, this is not a favor to industry, it's what markets require to function. from Russia, although I'll give you context on this, Russia's Central Bank finally just announced to legalize Bitcoin and crypto for international trade. Here we go. I will say this is not 100% yet. This is a continuation from what was publicly said September 6th of last year, 2025, when Russia accused the US of using crypto to wipe out its $35 trillion in crypto to wipe out its $35 trillion in debt, now 39. Putin's advisor said Washington will shove debt into stable coins, devalue it, and reset the system. coins, devalue it, and reset the system. You remember this. headlines about Russia today? I did the digging, this channel will give you all the information. This is why you subscribe. But cryptocurrency law in Russia may take effect September 1st. So, it isn't full throttle yet, but September 1st is pretty close, and the cryptocurrency law in Russia, which sets the rules for the issuance and circulation of digital currencies, may come into effect September 1st, 2026. This was announced at the Bank of Russia Financial Congress by the chairman of the State Duma Committee on Financial Markets. Basically, what what is saying is the regulation may go into effect September 1st, essentially what Taiwan just did, Russia is about to do in September, and the little old country of the United the little old country of the United States can't get our stuff together. That's why we're seeing the outflows in the short term, but this industry, I believe, is going to be so much bigger in the long term. Remember, this was from last year. Russia turns to crypto for trade as Swift restrictions bite. Finance Ministry legalizes use. So, that's what's about to change September 1st. This industry is going to be a whole lot bigger, and the minute I get updates on any of this, I will make a video. I'll keep you informed. Click nothing. It costs you nothing. Just check it out. Our goal is to hit one or by the end of this year. We are so close, and like always, see you close, and like always, see you tomorrow.