Taiwan Considers AML Amendment to Include CryptoTaiwan Considers AML Amendment to Include Crypto
By Sheevika Senanayake - October 10, 2018

Taiwanese legislator Jason Hsu has advanced a proposal that will make cryptocurrency transactions held to the same regulatory standard as fiat currencies with regard to money laundering laws. Taiwan’s Money Laundering Control Act would need to be amended to cover the alternative currencies, and the bill would include a provision for educating the public as well. Once the ruling takes place “cryptocurrency exchanges in Taiwan will be accountable for anti-money laundering. Upon this foundation, customer reviews, transaction record keeping, and reporting suspicious transactions reports will all be categorized as the obligations of AML”