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Taiwan fast-tracks stricter crypto AML rules to take effect Nov. 30
Taiwan’s Financial Supervisory Commission will enact new anti-money laundering rules on Nov. 30, a month earlier than it had initially planned, as the regulator charges ahead with its fraud prevention efforts. The new rules require crypto service providers, such as crypto exchanges, to complete AML compliance registration. Non-compliance may lead to penalties, including imprisonment for up to two years and a fine of up to NT$5 million ($153,700). The FSC said in a statement on Wednesday that overseas “virtual asset service providers” (VASPs) must establish a company or branch office under Taiwan’s Company Act ... (full story)
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- Posted: Nov 29, 2024 10:00am
- Submitted by:Category: Crypto Industry NewsComments: 0 / Views: 82
