Taiwan is in the news with new AML regulations in the crypto world! đ§
- The Financial Supervisory Commission has introduced strict anti-money laundering measures for VASPs.
- These rules, which will come into effect on January 1, 2025, target crypto exchanges and platforms.
- Those who fail to comply risk up to 2 years in prison and a fine of up to NT$5 million.
- A new "special law" is also on the way, with additional regulations such as capital requirements and staff qualifications.
