The Financial Supervisory Commission of Taiwan (FSC) will implement new anti-money laundering (AML) regulations for cryptocurrency service providers starting from November 30. 🌐

- The regulation requires exchanges and virtual asset service providers (VASPs) to register for AML compliance.

- The initial registration deadline is January 1, 2025, but it has been pushed forward by the FSC by one month.

- Foreign entities must have a presence in Taiwan and complete AML registration according to the Company Act.

- 26 approved cryptocurrency providers are operating, all must comply with the new regulations.

FSC has also fined two local exchanges for violating AML regulations. 🏦