Taiwanese Gov’t Plans To Release Anti-Money Laundering Regulations For Crypto In November

Cointelegraph
Date: April 21, 2018
By: Ana Alexandre

Taiwanese Minister of Justice, Chiu Tai-san, said that the country will roll out new regulations for virtual currencies later this year, Taiwan Central News Agency reported April 20.

Today, at a conference dedicated to anti-money laundering (AML) in the financial industry held by the Taiwan Financial Services Coalition, Chiu Tai-san said that the country will develop and launch new regulations on Bitcoin and other cryptocurrencies. The regulations will aim to prevent cryptocurrencies from becoming instruments for money laundering and reportedly will take effect in November.

The Financial Supervisory Commission (FSC), with the consultation of the Ministry of Interior, the Central Bank, and the Investigation Bureau, will determine the relevant control mechanism, laws, and regulations for cryptocurrency.    [FULL  STORY]