Strict AML regulations: Taiwan requires all cryptocurrency exchanges to implement transparency measures under AML regulations. Non-compliance could result in heavy penalties, including prison time or substantial fines.
Deadline change for registration: The deadline for registration for virtual asset services has been extended to November 30, allowing providers more time to comply with the new regulations.
Violations and penalties: Two exchanges, Maicoin and Bitopro, were fined for failing to meet AML requirements related to customer verification and reporting suspicious transactions. This reflects increasing regulatory enforcement.
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