ChainCatcher reported that Taiwan officially established the Cryptocurrency Industry Association today. According to a statement released by the organization on Thursday, a total of 24 cryptocurrency companies have joined the Taiwan Virtual Asset Service Provider Association. These companies have registered with the Financial Supervisory Commission as anti-money laundering compliance companies.

The association will be chaired by Titan Cheng, founder and CEO of BitoPro, one of Taiwan's major exchanges. Winston Hsiao, co-founder and chief revenue officer of XREX, will serve as vice chairman of the association.