Huang Tien-mu told lawmakers in parliament that the Financial Supervisory Commission will initially be responsible for the supervision of payments and transactions, but will not cover NFTs, or "non-fungible tokens".

Huang said he will discuss the details with other government departments as well as "self-discipline norms" with relevant industries.

Details will be announced after consultations with the cabinet, he added.

(Reporting by Emily Chan; Writing by Ben Blanchard; Editing by Himani Sarkar)