Taiwanese cryptocurrency providers in China are required to implement Anti-Money Laundering registration

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【Taiwan Implements Anti-Money Laundering Registration for Cryptocurrency Providers】Following the fines imposed on two Cryptocurrency exchanges for related violations, Taiwan has introduced new Anti-Money Laundering (AML) regulations for Cryptocurrency businesses. On November 27th, the Financial Supervisory Commission (FSC) announced that the upcoming Money Laundering prevention registration requirement for Cryptocurrency exchanges has been postponed from the previous deadline of January 1st, 2025 to November 30th. According to the previous notice, Virtual Asset Service Providers (VASPs) that fail to register with the government may face up to two years of imprisonment or a maximum fine of 5 million NTD (approximately $155,900 USD).

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