According to Foresight News, The Block reported that the Taiwan Virtual Asset Service Provider (VASP) Association has been established under the guidance of the government, with a total of 24 crypto companies joining and registering as anti-money laundering compliance companies with financial regulators. The association will be chaired by Titan Cheng, founder and CEO of BitoPro, one of Taiwan's major exchanges. Winston Hsiao, co-founder and chief revenue officer of XREX, will serve as vice chairman of the association. Currently, the government has asked the association to formulate self-regulatory rules.