Taiwan’s crypto industry prepares to form association ahead of new regulation | Headlines | News | CoinMarketCap
09/26/2023 12:20
Taiwan’s cryptocurrency sector is laying the foundations for an industry association with its financial regulator expected to officially release …
The Block7 minutes ago
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Published on September 26, 2023 05:10 GMT+00:00edited on September 26, 2023 05:14 GMT+00:00
Taiwan’s cryptocurrency sector is laying the foundations for an industry association with its financial regulator expected to officially release guidelines later this week.
In a joint statement, nine crypto firms said today that they plan to apply to establish an industry association in mid-October and have set up a working group to speed up the process.
Taiwan has required virtual asset services providers (VASPs) to comply with anti-money laundering laws since the Financial Supervisory Commission introduced anti-money laundering rules in July 2021. Otherwise, the industry remains largely unregulated in Taiwan.
The FSC, however, is expected to release a set of guidelines on trading and payments related to cryptocurrencies for VASPs by the end of this month. By setting up an …