Central Bank Banking Department Chief Hsieh Feng-ying Retires, Tao Hui-heng Takes Over Digital Currency Push

The central bank’s Department of Banking oversees currency, payments and financial operations. During her tenure as director-general, Hsieh Feng-ying played a leading role in policies covering central bank digital currency, or CBDC, stablecoins and digital finance. The leadership transition will be consequential for upgrades to Taiwan’s payment system and could shape the future direction of digital-asset regulation and a framework for New Taiwan dollar stablecoins.

Hsieh retired upon reaching the mandatory retirement age on July 16. The central bank promoted Tao Hui-heng, then deputy director-general of the Department of Banking, to succeed her and take charge of digital-finance policy. Tao’s initial priorities include continuing CBDC planning, advancing the development of a stablecoin framework and addressing the financial-stability and regulatory challenges created by the digitization of payments.