ChainCatcher message, Binance announced that in order to comply with the new amendment to Taiwan's anti-money laundering law effective on November 30, 2024, all merchants in the New Taiwan Dollar (TWD) market, including cash merchants, who have not obtained P2Pro certification (approved by the Financial Supervisory Commission of Taiwan for anti-money laundering compliance) will have their advertisements removed from Binance P2P's TWD market on November 29, 2024. Affected merchants are prohibited from posting any advertisements related to the New Taiwan Dollar or providing services for buying and selling New Taiwan Dollars and virtual assets on the platform.Binance urges all affected merchants to raise awareness and plan ahead, applying for anti-money laundering registration with the FSC starting from November 30, 2024, and applying for P2Pro merchant status after obtaining approval.

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.