"Taiwan Mobile, the country's second-largest telecommunications provider, has received a virtual asset service provider (VASP) license from the country's Financial Supervisory Commission. This paves the way for the opening of a cryptocurrency exchange. 📱

Taiwan Mobile, known as Taiwan Big Brother in Chinese, became the 26th company to receive a VASP license. The company has been seeking to enter the crypto market for more than a year.

To obtain a VASP license, Taiwan Mobile had to meet several anti-money laundering requirements. After overcoming these obstacles, the company becomes eligible for membership in the Taiwan Virtual Asset Service Providers Association.

Cryptocurrency regulation in Taiwan is becoming stricter. The FSC assumed responsibility for regulating cryptocurrencies in mid-2023. In September, it formulated guidelines for crypto businesses and banned foreign operators."