Taiwan plans ban on unregistered offshore crypto exchanges
Taiwan plans to restrict access to offshore crypto currency exchanges that are not registered with the local regulators. According to a Sept. 7 report by Taiwan’s semi-official Central News Agency, the country’s Financial Supervisory Commission recently drafted ten virtual asset service provider principles for local crypto regulation. Those principles are expected to be released by the end of September. The newly set requirements include review standards for listing and delisting, separate custody of platform and customer assets, and anti-money laundering (AML) procedures. Following the publication of the principles later this month, public institutions will formulate regulatory norms on their own. Those rules will not be final and will be amended to comply with international standards and react to research findings. You might also like: Binance seeks AML compliance in Taiwan The principles set forth by Taiwanese regulators for digital assets are: Digital asset...