Odaily Planet Daily News Taiwan's Financial Supervisory Commission (FSC) will implement new anti-money laundering (AML) rules on November 30, a month earlier than originally planned, as the regulator accelerates its anti-fraud efforts. The new rules require crypto service providers, such as crypto exchanges, to complete anti-money laundering compliance registrations. Failure to comply with the regulations may result in penalties, including up to two years in prison and fines of up to NT$5 million (about US$153,700). The FSC said in a statement on Wednesday that overseas "virtual asset service providers" (VASPs) must establish a company or branch in accordance with Taiwan's Company Law and complete the required anti-money laundering registrations before they can conduct business in Taiwan. The regulator introduced these new regulations after revising the law in July. (The Block)