Taiwan Polishes Crypto Regulations, Plans To Ban Non-Compliant Offshore Exchanges
Portfolio Pulse from Khyathi Dalal
Taiwan's Financial Supervisory Commission (FSC) is drafting 10 guiding principles for virtual asset service providers (VASPs), which may include a compliance registration requirement for offshore crypto exchanges. Non-compliant exchanges could be banned. The principles are expected to be released by the end of September. Binance (CRYPTO: BUSD) has reportedly applied for registration in Taiwan for AML compliance.
September 07, 2023 | 9:01 pm
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Binance (CRYPTO: BUSD) has applied for registration in Taiwan for AML compliance. The new regulations could impact the operations of Binance in Taiwan.
The new regulations being drafted by Taiwan's FSC could potentially impact Binance's operations in Taiwan, especially if they include a compliance registration requirement for offshore crypto exchanges. However, Binance has already applied for AML compliance registration in Taiwan, which could potentially mitigate some of the impact.
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