Crypto businesses in Taiwan must register with the country’s financial regulator by the end of  September 2025, or potentially face up to two years’ imprisonment.

Taiwan’s Financial Supervisory Commission (FSC) said that all virtual asset service providers (VASPs) operating in the region must comply with the newest set of anti-money laundering (AML) regulations, which were updated in July 2024.

Companies that fall foul of the latest deadline could also face fines of up to roughly $155,000 (NT$5 million).

The new set of AML rules is still undergoing drafts and is on track to be launched on January 1, 2025.

Alongside the registration process, crypto firms will be required to meet capital requirements and provide “passive and active” protections under the new rules, according to reports in local media.

These measures could include ensuring that the management of crypto firms has sufficient professional experience and that they do not have any prior criminal convictions.

Taiwan introduced its previous batch of rules governing crypto AML in July 2021—but following the latest announcement, eve

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Author: Will McCurdy