**Taiwan Tightens AML Rules for Virtual Asset Providers**

Taiwan is making a breakthrough again! 🎉 Starting January 1, 2025, all virtual asset service providers (VASPs) are required to register with the Taiwanese government before September 2025. If they don't comply, be prepared to be fined 5 million TWD or be imprisoned for 2 years! 😱

- **What's New?**

- The new AML rules replace the old ones.

- All crypto companies, even if they are already compliant, must re-register with the FSC.

- **Why Re-register?**

- To avoid penalties and ensure that all VASPs comply with the latest rules.

- **What's Next?**

- The FSC will propose a new crypto law in June 2025, with a final draft by the end of 2024.

- **Good News!**

- The FSC also allows professional investors to play in foreign virtual asset ETFs. But be careful, the risk is high!

What do you think about the new rules? Comment below! 👇