Taiwan To Implement Strict Crypto AML Regulations on Nov. 30
The AML rules were set to go into force next year, but recent breaches have spurred the FSC to speed up its implementation. Taiwan’s Financial Supervisory Commission (FSC) is set to enforce new anti-money laundering (AML) rules for cryptocurrency service providers starting November 30. These regulations require crypto exchanges and virtual asset service providers (VASPs) to register […]
Taiwan Enforces AML Regulations for Crypto Providers
Taiwan has expedited implementing its new Anti-Money Laundering (AML) regulations for cryptocurrency businesses in response to the imposition of fines on two crypto exchanges for violations. The Financial Supervisory Commission (FSC) announced on Nov. 27 that the impending money laundering prevention registration mandate for crypto exchanges has been postponed from the previous deadline of Jan. […]
Taiwan to Pilot Crypto Custody Services Through Local Banks in 2025
Taiwan seeks to promote institutional cryptocurrency adoption as regulators endeavor to pilot crypto custody services through local institutions in the first quarter of 2025. Central News Agency, a local media outlet, reported on October 8 that Taiwan’s Financial Supervisory Commission (FSC) is preparing to initiate an institutional trial of crypto custody services. Three private banks […]
Taiwan FSC Implements new AML Rules for Crypto Firms
Virtual asset service providers must comply with the new anti-money laundering legislation that Taiwan’s Financial Supervisory Commission has adopted or face penalties. According to a recent release, the FSC has reportedly published a draft of the “VASP Registration Regulations,” which will go into force on January 1, 2025. These actions come after the AML Act […]
Taiwan FSC Approves Bitcoin ETF Investments
This decision comes amid rising demand for spot Bitcoin ETFs and a cautious shift in China’s cryptocurrency policies. Professional investors will soon be able to participate in cryptocurrency exchange-traded funds (ETFs), including Bitcoin ETFs, through a re-entrustment process, according to the Financial Supervisory Commission (FSC), Taiwan’s most prominent financial securities regulator. In light of the […]