BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Taiwan’s Virtual Currency Management Committee to Issue 10 Guiding Principles for Crypto Report

BlockNews Team by BlockNews Team
September 12, 2023
in CRYPTO, FINANCE, MEDIA
Reading Time: 3 mins read
1
SHARES
13
VIEWS
Share on XShare in TelegramShare on Reddit
  • Taiwan’s crypto watchdog has formulated 10 principles including the prohibition of illegal solicitation by foreign currency dealers.
  • The guidelines are meant to provide a framework around compliance, consumer protection, and anti-money laundering.
  • The guidelines will also put restrictions on unregistered overseas firms soliciting business in the country.

The Financial Supervisory Commission (FSC) of Taiwan for Virtual Currency Management is set to issue 10 guiding principles for virtual asset providers in September, according to a Sep. 7  report by Central News Agency.

The East Asian country will set guidelines to ensure that crypto businesses establish review mechanisms, keep customers’ payments separate from their own tokens and comply with anti-money laundering laws (AML). The guidelines will also put restrictions on unregistered overseas crypto exchanges operating within its jurisdiction as a part of its incoming guidance for virtual asset service providers (VASPs).

FSC’s 10 Guiding Principles

Officials from the agency confirmed to CNA on Sep. 7 that the draft guidelines have been initially finalized and are expected to be officially announced before the end of September.

The 10 guiding principles include strengthening information disclosure, requiring operators to set standards for reviewing listing and delisting, separate custody of platform and customer assets, and specifying that individual currency dealers should also implement Prevention of money laundering and strict prohibition of illegal solicitation of business by foreign currency dealers, among others.

The FSC has prohibited foreign VASPs from illegally soliciting business within Taiwan as one of its 10 principles that are to be issued at the end of September.

The FSC proposed that overseas crypto platforms that do not have a company registration in Taiwan and do not comply with its Anti-Money Laundering(AML) laws should not solicit business in Taiwan or from its citizens.

This is with a view to strengthening the crypto oversight.

In March, it was announced that The FSC would assume the responsibility as the main and sole crypto regulator in the country. The organization’s chairperson, Huang Tien-mu, highlighted that the framework will have major policies and rules, including separating company assets and customer funds.

The country declared that virtual asset service providers must comply with local AML regulations in 2018 and in 2021 it issued rules in line with guidance from the global Financial Action Task Force (FATF). Last year the country registered 24 crypto platforms

Tags: FSCTaiwanVirtual Currency Management
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

Cronos (CRO) Price Signals Line Up Perfectly With GainzAlgo Indicator
CRYPTO

Cronos (CRO) Price Signals Line Up Perfectly With GainzAlgo Indicator

August 28, 2025
Cardano (ADA) Eyes Bullish Breakout as Grayscale ETF Decision Looms
CARDANO

Cardano (ADA) Eyes Bullish Breakout as Grayscale ETF Decision Looms

August 28, 2025
Cronos ($CRO) Soars 165% After $6.4B Trump Media Treasury Deal
CRYPTO

Cronos ($CRO) Soars 165% After $6.4B Trump Media Treasury Deal

August 28, 2025
S&P Hits New All Time High Fueled by Nvidia AI-Driven Market Rally
FINANCE

S&P Hits New All Time High Fueled by Nvidia AI-Driven Market Rally

August 28, 2025
CFTF Investigating Pathways to Allow U.S. Traders Access to Offshore Crypto Exchanges
CRYPTO

CFTF Investigating Pathways to Allow U.S. Traders Access to Offshore Crypto Exchanges

August 28, 2025
What is Cronos and How Does it Work? Is CRO the Biggest Sleeper Crypto of 2025?
CRYPTO

What is Cronos and How Does it Work? Is CRO the Biggest Sleeper Crypto of 2025?

August 28, 2025
Load More

Related News

Cronos (CRO) Price Signals Line Up Perfectly With GainzAlgo Indicator

Cronos (CRO) Price Signals Line Up Perfectly With GainzAlgo Indicator

August 28, 2025
Cardano (ADA) Eyes Bullish Breakout as Grayscale ETF Decision Looms

Cardano (ADA) Eyes Bullish Breakout as Grayscale ETF Decision Looms

August 28, 2025
Cronos ($CRO) Soars 165% After $6.4B Trump Media Treasury Deal

Cronos ($CRO) Soars 165% After $6.4B Trump Media Treasury Deal

August 28, 2025
S&P Hits New All Time High Fueled by Nvidia AI-Driven Market Rally

S&P Hits New All Time High Fueled by Nvidia AI-Driven Market Rally

August 28, 2025
CFTF Investigating Pathways to Allow U.S. Traders Access to Offshore Crypto Exchanges

CFTF Investigating Pathways to Allow U.S. Traders Access to Offshore Crypto Exchanges

August 28, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews