Binance Seeks Registration under Taiwan’s Money Laundering Control Act!

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Binance, the world’s largest cryptocurrency exchange, is seeking registration under Taiwan’s Money Laundering Control Act. Currently, this is the only crypto-related regulation in Taiwan. At a closed-door meeting last Tuesday, Taiwan’s Financial Supervisory Commission informed domestic crypto service providers that Binance is applying for registration for anti-money laundering compliance. The commission mandated virtual asset service providers to comply with anti-money laundering rules in July 2021. Otherwise, the crypto industry in Taiwan remains largely unregulated.