Taiwan’s Financial Supervisory Commission will strengthen its scrutiny of cryptocurrency exchanges in new regulations to be issued in January

PANews reported on November 4 that according to The Block, the Financial Supervisory Commission (FSC) of Taiwan plans to introduce new regulations in January 2025, requiring crypto service providers to complete anti-money laundering (AML) compliance registration. Huang Xihe, head of the FSC's securities company department, said at the FinTechOn conference in Taipei that the new regulations will strengthen the listing and delisting review of crypto assets, involving key areas such as fiat currency custody, information security, customer complaints, record keeping and information disclosure.

In addition, the new regulations will require trading platforms to establish clear listing and delisting procedures, prevent unfair trading, and monitor abnormal trading activities. Crypto custodians must entrust customer assets or isolate them from the platform's own assets, and entrust accounting firms to audit customer assets every year. The FSC also plans to submit a special legal proposal for crypto assets in June 2025 to further strengthen supervision.