Taiwan introduces new anti-money laundering regulations for all virtual asset service providers, with mandatory registration by 2025 and fines of up to 5 million New Taiwan dollars 💰

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Taiwan's Financial Supervisory Commission (FSC) has introduced new anti-money laundering (AML) regulations that all local virtual asset service providers (VASPs) will need to comply with by 2025.

According to the new rules, crypto companies are required to register with the government by September 2025, or they will face a fine of up to 5 million Taiwan dollars or imprisonment for up to two years. The new system will come into effect on January 1, 2025, replacing the current standards. Even if companies have already complied with the old requirements, they must re-register under the new regulations.

Additionally, VASPs must submit an annual risk assessment report to the state.

The FSC plans to present a new cryptocurrency regulatory bill by mid-2025.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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