Taiwan’s regulator to introduce jail terms for violating crypto firm registration rules
Virtual asset service providers operating in the country must complete registration by October next year
03.10.2024 - 15:00
422
2 min
0
What’s new? Taiwan’s Financial Supervisory Commission (FSC) has drafted new anti-money laundering (AML) rules that require crypto companies to complete registration with the agency by October 2025. Violation of the rule carries penalties of fines or imprisonment for up to two years.
What else is known? For now, Taiwan requires virtual asset service providers (VASPs) to comply with AML regulations introduced by the FSC in July 2021. However, these will soon be replaced by new regulations. The regulator specifies that registration must take place regardless of whether the crypto company has filled out a declaration of compliance with the old standards.
The new rules will take effect on January 1, 2025, and VASPs must complete registration by September 30. Otherwise, executives face fines of up to $5 million New Taiwan dollars ($155 900), or jail time.
According to Kevin Cheng, a lawyer and general secretary of the Taiwan Fintech Association, the new rules set higher barriers to entry and operations. They also provide stronger legal protections for the development of the crypto sector in the country, making it more attractive to foreign investors.
At the end of last month, the FSC allowed professional investors to trade shares of foreign exchange-traded cryptocurrency funds. It was noted that this would increase the competitiveness of the local market.
In April, Argentina introduced a requirement for crypto companies to register with the Securities Commission. It is also aimed at strengthening the fight against money laundering and involves the creation of a VASP registry.
Useful material?
Telegram 
Twitter Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Incidents
The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file
May 14, 2026
Crypto regulations
Authorities are introducing mandatory registration for companies handling cross-border crypto transactions
May 8, 2026
Incidents
According to Blockaid, the attack may have been carried out by the same hacker behind the 1inch Fusion V1 exploit.
May 7, 2026
Incidents
The attacker gained administrative access and altered contracts to drain user funds
Apr 30, 2026
Cryptocurrency rates
-
Bitcoin
$63 567
BTC
-5.22%
-
Ethereum
$2 551.16
ETH
+3.56%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.17
XRP
-5.74%
-
TRON
$0.160134
TRX
-1.59%
-
Dogecoin
$0.088821
DOGE
-5.39%
-
Zcash
$569.19
ZEC
-8.09%
-
Cardano
$0.194817
ADA
-9.99%
-
Stellar XLM
$0.209496
XLM
-9.43%
-
Polkadot
$3.32
DOT
+5.27%