Taiwan's Financial Supervisory Commission: 52 virtual currency platform operators have expressed their intention to enter the Taiwan market

2023-09-10 10:07:11

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ChainCatcher news, according to the United Daily News, the Taiwan Financial Supervisory Commission (FSC) stated that 52 virtual currency platform operators intend to join the Taiwan market, of which 25 (including 2 foreign companies' Taiwan branches) have completed the legal compliance declaration for anti-money laundering, while another 27 are in the process of submitting additional documents.

The Taiwan FSC will announce the guidelines for virtual asset management in September, and it does not rule out the possibility of establishing a special law in the future. Before any special law is enacted, the FSC will manage virtual asset operators according to the "Anti-Money Laundering Act." If operators do not make a legal compliance declaration for anti-money laundering, they will be required to rectify the situation; otherwise, the Anti-Money Laundering Act will be invoked for penalties, with fines starting from 500,000 and reaching up to 10 million.

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