CoinVoice has recently learned that according to Chain News, Taiwan's Legislative Yuan yesterday passed the third reading of some provisions of the Anti-Money Laundering Act, officially bringing businesses or personnel that provide virtual asset services and third-party payment services under the scope of regulation. In the future, these service providers must complete money laundering prevention and service capacity registration or login, otherwise they will face a maximum sentence of up to 2 years in prison or a fine of up to NT$5 million.

The amendment also revised the penalties for general money laundering crimes. The third reading of the article stipulates that anyone involved in the acts listed in Article 2 of the Anti-Money Laundering Act will be sentenced to fixed-term imprisonment of not less than 3 years but not more than 10 years and a fine of not more than NT$100 million. If the money laundered property or financial benefits do not reach NT$100 million, the person will be sentenced to fixed-term imprisonment of not less than 6 months but not more than 5 years and a fine of not more than NT$50 million. Attempted crimes will also be punished. [Original link]