Taiwan Officials Launch Inquiry into Crypto Betting on Election Results
Taiwan’s warning against crypto betting for the next presidential election highlights the legal concerns and election law violations. While Taiwan is getting ready for the January 13, 2024, presidential election, authorities have warned against using cryptocurrency betting sites to bet on the election result. This warning coincides with a wider investigation into illicit internet gambling, […]
Bitgin Crypto Exchange Faces Investigation for Money Laundering
Bitgin, a Taiwanese cryptocurrency exchange, is facing an investigation from the police, confirming its chief operating officer’s brief relationship with an alleged money laundering group on Nov. 13. The Taiwanese police are investigating the cryptocurrency exchange Bitgin for money laundering. Early this week, local news sources reported that Taiwanese police arrested the firm’s chief operating […]
Taiwan Detains Key JPEX Executives Amidst Fraud Investigation
Executives from Taiwan’s JPEX exchange were arrested as part of a cryptocurrency fraud investigation, demonstrating Taiwan’s strict financial compliance laws. Taiwan’s legal authorities have detained prominent JPEX cryptocurrency exchange members embroiled in legal disputes. Chang Tung-Ying, the principal partner, and Shi Yu, an instructor associated with JPEX, were detained by the Taipei District Prosecutors Office […]
Taiwan Introduces Virtual Asset Management Bill to Parliament
Legislators from Taiwan introduced the Virtual Asset Management Bill to the unicameral Legislative Yuan on October 25. The bill aims to provide “better protection” for consumers and “properly supervise” the industry. The 30-page bill imposes moderate requirements on the industry. It recommends that virtual asset service providers (VASPs) separate customer funds from the company’s reserve […]
Taiwan to Bring Special Crypto Law by November End
Taiwanese legislators hope to release the first draft of a special law by the end of November 2023. An official in Taiwan’s Legislative Yuan named Yung-Chang Chiang stated in an interview that he hopes to have the first draft of the law available for the parliament to study by the end of November or earlier […]