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Taiwan’s Financial Supervisory Commission (FSC) has launched Anti-Money Laundering (AML) regulations to tighten its oversight of the crypto industry. All virtual asset providers (VASPs) are required to comply with these new AML laws by 2025.Since March 2024, Taiwan’s FSC has been anticipating the introduction of new crypto regulatory measures. According to the amendments released on October 2, all crypto firms in Taiwan must register with the government by September 2025. Companies that fail to adhere to the laws will have to face severe penalties of up to 5 million Taiwan dollars ($155,900) and prison sentences of up to 2 years.Taiwan’s Regulatory MeasuresThe new regulations will be effective from January 1, 2025, revamping the existing VASP laws and ushering in a new era of regulatory compliance. Even companies that are compliant with the old AML compliance measures should meet the revised regulatory framework and registration obligations. While the first amendment mandates crypto companies’ registration, the second is focused on preventing money laundering.<a href="https://cryptotale.org/taiwan-tightens-crypto-regulations-launches-new-aml-rules/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Taiwan Tightens Crypto Regulations, Launches New AML Rules

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