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Taiwan's Financial Supervisory Commission (FSC) has proposed new anti-money laundering (AML) regulations for cryptocurrency firms. Starting January 2025, these regulations require virtual asset service providers (VASPs) to register for AML compliance by September 2025. Non-compliance with these rules could result in penalties, including up to two years in prison and fines of up to NT$5 million ($155,900). The FSC's move aims to strengthen the regulatory framework around cryptocurrencies and enhance financial transparency.
Taiwan Tightens Crypto Rules: AML Compliance by 2025 Taiwan’s FSC isn’t pulling any punches with new AML regulations for VASPs - full compliance by September 2025 or risk NT$5M fines ($155K) and potential prison time. The shift is real: higher standards for leadership, annual… https://t.co/ducxEsgSox
Taiwan’s Regulators Coming for Crypto: AML Clampdown Alert! Taiwan’s FSC just laid down the law for VASPs, and it’s not for the faint of heart. By 2025, crypto firms comply with some beefed-up AML standards or get slammed - fines could hit NT$5M ($155K) or even a 2-year stint… https://t.co/DqvHm6BmOM
TAIWAN’S FSC INTRODUCES NEW AML REQUIREMENTS FOR CRYPTO FIRMS Taiwan’s Financial Supervisory Commission (FSC) has drafted new anti-money laundering regulations, requiring virtual asset service providers (VASPs) to register by September 2025. Non-compliance with these AML rules… https://t.co/VtgBPIrcte
