Taiwan’s Financial Supervisory Commission (FSC) intends to impose restrictions on the operations of foreign cryptocurrency exchanges that have not registered with the regulator.
The agency has reportedly developed 10 guidelines for the activities of virtual asset service providers (VASPs).
The FSC plans to publish the document by the end of the month. The regulation is expected to be adjusted based on local experience and international practices.
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Once the document comes into force, VASPs will be required to disclose information on virtual assets issued in an appropriate manner, store corporate and client funds separately, increase transparency of transactions, and ensure fair market transactions, among other things.
The FSC has also mentioned internal control mechanisms and anti-money laundering requirements in the document.
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One of the elements proposed by the regulator is to prohibit foreign crypto platforms from conducting business in Taiwan without proper registration under the Money Laundering Act.
Источник: ru.ihodl.com
