(Background supplement: Fighting fraud) The internet "real-name system for advertisements" will be implemented on New Year's Day next year; the Financial Supervisory Commission: The VASP registration system will be launched by the end of the year. The domestic supervision of cryptocurrency exchanges has raised the standards for anti-money laundering. According to the latest announcement from the Financial Supervisory Commission, MaiCoin (Modern Wealth Technology) and BitoPro (Bito Technology) have both been fined NT$1.5 million for violating anti-money laundering regulations. The main reasons for the penalties against the two exchanges include failing to strengthen customer reviews, not thoroughly understanding the sources of customer wealth, failing to retain customer transaction data, and not being able to fully grasp the patterns of money laundering and terrorist financing transactions, among other violations of anti-money laundering laws. The penalties were imposed yesterday (25). Since the Financial Supervisory Commission began financial inspections of cryptocurrency exchanges in 112, the cumulative penalties for operators so far are: Ace Digital NT$1.52 million, Modern Wealth NT$1.5 million, Bito NT$1.5 million, and BitoLai NT$1.02 million. Among them, Bito has been penalized, and hereby states: Regarding the administrative penalties announced by the Financial Supervisory Commission today (11/26), our company thanks the supervisory authority for their guidance. We are aware of the significant responsibility of leading the industry towards healthy development. Therefore, we have immediately formed a special task force to address the deficiencies, and have implemented a concrete improvement plan, established a more rigorous internal auditing and control process, strengthened internal education and training, and enhanced the compliance awareness of all employees. We will also generously share compliance experiences with other operators in hopes of creating a safer and more transparent investment environment. We firmly believe that compliance is the cornerstone of the development of the virtual currency industry. In addition to actively improving internal compliance operations, we will continue to work closely with regulatory authorities and various partners in the future, continuously invest resources in risk control, information security, and technological innovation, to bring about a more positive and compliant development in the virtual currency industry. Related reports WOO X announces it will terminate services for Taiwan exchanges; pay attention to these three phases of withdrawal timeline. "MaiCoin and BitoPro exchanges have been fined NT$1.5 million each by the Financial Supervisory Commission for violating anti-money laundering regulations." This article was first published in BlockTempo (the most influential blockchain news media).