Taiwan’s Financial Supervisory Commission (FSC) will enforce new anti-money laundering (AML) regulations for cryptocurrency service providers starting November 30. The upcoming rules require crypto exchanges and other virtual asset service providers (VASPs) to register for AML compliance. AML Framework The deadline for mandatory AML registration for crypto companies was initially January 1, 2025, but the...Read More
Taiwan’s Financial Supervisory Commission is preparing to roll out a pilot program for institutional crypto custody. The regulatory agency intends to collect applications in early 2025, and three private banks have already expressed interest in participating. The latest move signifies efforts to promote institutional adoption of crypto in the region. Institutional Crypto Custody in Taiwan...Read More
Taiwan’s Financial Supervisory Commission (FSC) has introduced a new policy allowing professional investors to invest in foreign cryptocurrency exchange-traded funds (ETFs) through local brokers. The policy restricts access to these financial products to professional investors, including institutions, high-net-worth entities, and individuals classified as professionals. Suitability Assessments and Training Requirements According to a September 30 press...Read More
ACE Exchange, one of Taiwan’s largest crypto trading platforms, is reportedly under investigation for alleged fraudulent activities, with local authorities estimating the value of the fraud to be over $32 million. However, the company clarified that its employees were not involved in the alleged fraud case. ACE Exchange Founder Arrested for Fraud Allegations According to...Read More
Nearly two months ago, Dubai-based crypto exchange platform JPEX decided to “wind down operations” after Hong Kong regulators took notice of their activities. Immediate Fallout At the time, JPEX’s Earn program was singled out by authorities as a major point of contention with the platform. Things took a wild turn from there, as the exchange...Read More
