🚀 Taiwan's crypto scene is getting serious! 24 crypto firms, including XREX, have teamed up to form the Taiwan Virtual Asset Service Provider (VASP) Association. Their mission? To develop self-regulatory standards and combat fraud in the digital asset industry. This comes as Taiwan's Justice Ministry proposes stricter Anti-Money Laundering regulations for virtual asset service providers. Noncompliance could lead to jail time or hefty fines. But don't worry, the VASP Association is here to promote compliance, standardization, and the healthy development of the industry. So, buckle up, crypto enthusiasts! Taiwan's crypto ride is just beginning.