🚀 Taiwan is set to shake up the crypto world with new anti-money laundering (AML) rules starting November 30!

- Virtual asset service providers (VASPs) must register for AML compliance immediately. Originally, the deadline was January 2025, but now it has been moved up by a month!

- All foreign entities operating in Taiwan are required to have a local presence and register under the Companies Law.

- To help, the FSC has issued a checklist for platforms to detect suspicious activity.

- Failure to comply could result in a fine of up to NT$5 million and two years in prison! 😱

Taiwan is aiming to become a global leader in the digital asset space. Let’s discuss in the comments!