Taiwan’s legislature has passed amendments to existing anti-money laundering (AML) and counter terrorism financing (CFT) laws to place new requirements on crypto exchanges. The development was reported by FocusTaiwan, the English language news website of Taiwan's national news agency, on Nov. 2.
Under the new changes to Taiwan’s Money Laundering Control Act and Terrorism Financing Prevention Act, the Legislative Yuan — the Taiwan-based unicameral legislature of the Republic of China — has given Taiwan's Financial Supervisory Commission (FSC) the authority to bar anonymous crypto transactions.