Taiwan forces cryptocurrency providers to implement anti-money laundering registration
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2024-11-29 18:03:01 9,999
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Taiwan has moved forward with the introduction of new anti-money laundering (AML) regulations for cryptocurrency businesses after authorities fined two cryptocurrency exchanges for related violations, Golden Finance reported. On November 27, the Financial Supervisory Commission (FSC) announced that the upcoming money laundering prevention registration requirements for cryptocurrency exchanges will be postponed to November 30 from the previous deadline of January 1, 2025. According to previous notices, virtual asset service providers (VASPs) that fail to register with the government could face two years in prison or a fine of up to NT$5 million (US$155,900).