Taiwan's Financial Supervisory Commission has taken action! 🎉

According to Odaily Planet Daily, Taiwan's Financial Supervisory Commission has developed a draft of the registration method for virtual asset service providers (VASPs) to prevent money laundering, and revised relevant anti-money laundering and anti-terrorism measures. It is expected to be completed before the end of the year. Operators must complete the registration within 9 months. Violators may be sentenced to up to 2 years in prison or a fine of up to 5 million.

Currently, the Taiwan Virtual Asset Association has 24 members, 2 of which are applying, and 26 have completed registration. What do you think of this regulatory measure? Welcome to discuss in the comment section!