Taiwan’s AML Rules Covering Crypto Firms to Take Effect Tomorrow

Taiwan’s Financial Supervisory Commission (FSC) will implement new anti-money laundering (AML) rules for the cryptocurrency industry on November 30, a month earlier than initially planned, The Block reported first.New AML RulesUnder the updated regulations, cryptocurrency companies serving Taiwanese clients must register for AML compliance. Failure to register or adhere to the new rules could result in up to two years of imprisonment or fines of up to 5 million New Taiwan dollars (around $154,000).The Taiwanese regulator had previously announced that these rules would take effect on January 1…
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