Taiwan Amends AML and CFT Laws for ExchangesTaiwan Amends AML and CFT Laws for Exchanges
By Sheevika Senanayake - November 2, 2018

Taiwan has passed amended anti-money laundering (AML) and counter terrorism financing (CFT) laws to place additional requirements on cryptocurrency exchanges. The new regulations have also given Taiwan’s Financial Supervisory Commission (FSC) the power to stop anonymous crypto transactions. The FSC can now make KYC processes for exchanges mandatory, enabling banks to block transactions if they seem suspicious. The Ministry of Justice of Taiwan has stated that these new regulations allow Taiwan to more closely align with international AML standards.