Accelerating AML registration: The registration deadline for cryptocurrency service providers has been moved to November 30, 2024, to ensure all businesses must comply with regulations.
Impact on providers: Currently, there are 26 virtual asset service providers operating in Taiwan, the new regulations require all to perform anti-money laundering registration.
Severe penalties: Violations can lead to penalties of up to two years in prison or a fine of up to 5 million TWD, equivalent to 155,900 USD.
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