TAIWAN is Reportedly Preparing to intranuce Measures Targeting Unregisteas Cryptocurrency Exchanges Operation ITS JurisDiction As PART Office Ing Guidelines for Virtual Asset Service PROVIDERS (Vasps). ON for SeptEmber 7th, Local Media Outlet Centralline News Sory Commission of FSC the HAS tenguide virtual currencies in the country.
These draft guidelines encompass several key aspects, including bolstered information disclosure requirements, the establishment of review standards for cryptocurrency listings and delistings, the necessity for operators to maintain a clear separation between customers and platform assets, and mandates for VASPs to implement anti-money laundering measures. Importantly, one of the ten principles outlined by the FSC prohibits foreign VASPs from illicitly soliciting business activities within Taiwan. The FSC advises that overseas cryptocurrency platforms refraining from registering companies in Taiwan and failing to adhere to anti-money laundering laws should abstain from seeking business engagements in Taiwan or from Taiwanese citizens.
The report underscores that the FSC is committed to aligning with international best practices and is open to revising its regulations if deemed necessary in the future. An official announcement detailing these measures is anticipated by the conclusion of September, as per the report. In March of the same year, FSC Chairman Huang Tianwu had previously announced that the FSC would assume the role of Taiwan's primary cryptocurrency regulator. Huang emphasized that the forthcoming regulatory framework for cryptocurrencies would feature significant policies and rules, including the strict segregation of company assets and client funds .
