🚨 **Crypto Alert: Taiwan Tightens AML Rules for VASPs!** 🚨

- Taiwan’s Financial Supervisory Commission (FSC) has drafted new anti-money laundering (AML) regulations for virtual asset service providers (VASPs), effective Jan. 1, 2025.

- These rules require crypto exchanges, trading platforms, and custodians to register and comply with stricter AML protocols.

- VASPs must submit annual risk assessments and set up internal control systems.

- Non-compliance could lead to up to 2 years in prison and fines up to NT$5 million (~$156,140).

- A comprehensive “special law” for virtual assets is in the pipeline, set for mid-2025.

💬 What do you think about these new regulations? Share your thoughts in the comments!