{"id":84164,"date":"2023-09-07T19:22:05","date_gmt":"2023-09-07T16:22:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84164"},"modified":"2025-09-12T15:41:47","modified_gmt":"2025-09-12T12:41:47","slug":"taiwan-to-impose-restrictions-on-foreign-bitcoin-exchanges","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/taiwan-to-impose-restrictions-on-foreign-bitcoin-exchanges\/","title":{"rendered":"Taiwan to Impose Restrictions on Foreign Bitcoin Exchanges"},"content":{"rendered":"<p>Taiwan&#8217;s Financial Supervisory Commission (FSC) will impose restrictions on operations in the jurisdiction for foreign cryptocurrency exchanges that have not registered, local <a href=\"https:\/\/www.cna.com.tw\/news\/afe\/202309070063.aspx\">media<\/a> report.<\/p>\n<p>The agency has developed 10 principles guiding the operation of virtual asset service providers (VASPs).<\/p>\n<p>The FSC will publish the document by the end of the month, after which industry associations and organisations will formulate self-regulatory standards. It is expected that they will be adjusted and refined over time based on local experience and international practice.<\/p>\n<p>The Commission outlined the following requirements for VASPs:<\/p>\n<ul class=\"wp-block-list\">\n<li>adequate disclosure of information on issued virtual assets;<\/li>\n<li>development of mechanisms to verify listings and to delist them;<\/li>\n<li>segregated custody of corporate and client funds;<\/li>\n<li>increasing transparency of transactions and ensuring fair market trading;<\/li>\n<li>implementation of customer protection rules;<\/li>\n<li>the implementation of security systems to manage hot and cold wallets.<\/li>\n<\/ul>\n<p>The FSC also mentioned in the document internal control mechanisms and anti-money laundering requirements.<\/p>\n<p>One of the points proposed by the Commission was to prohibit foreign cryptocurrency platforms from operating in Taiwan without proper registration in accordance with the Anti-Money Laundering Act. <a href=\"https:\/\/forklog.com\/en\/news\/taiwan-to-enact-laws-regulating-digital-assets\">is the only<\/a> regulatory document for the industry.<\/p>\n<p>Earlier in August, media reported that Binance <a href=\"https:\/\/forklog.com\/en\/news\/media-binance-to-file-for-registration-in-taiwan\">to obtain approval<\/a> from the FSC to operate on the island.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taiwan&#8217;s Financial Supervisory Commission (FSC) will impose restrictions on operations in the jurisdiction for foreign cryptocurrency exchanges that have not registered, local media report.<\/p>\n","protected":false},"author":1,"featured_media":84165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,1203],"class_list":["post-84164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-taiwan"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84164"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84164\/revisions"}],"predecessor-version":[{"id":84166,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84164\/revisions\/84166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84165"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}