Taiwan’s Financial Supervisory Commission (FSC) has unveiled updated anti-money laundering (AML) regulations for local virtual asset service providers (VASPs). 🎉 The new measures, which will take effect on January 1, 2025, require all crypto firms to register by September 2025.

Violators will face severe penalties, including up to two years in prison or fines of up to NT$5 million (around $155,900). Even already compliant companies will be required to re-register.

The FSC also allowed professional investors to work with ETFs linked to foreign virtual assets. However, risk warnings and detailed product information will be required for non-qualified clients.