The Bank of Taiwan to tighten the anti money laundering provisions Taiwan bitcoin exchange form severe

The Bank of Taiwan to tighten the anti money laundering provisions Taiwan bitcoin exchange form severe

In the Wells Fargo Bank decided to risk (affect only the telegraphic transfer), bitcoin exchange Bitfinex notify customers of all bitcoin transactions transfer recharge services will be blocked and refused to “Bank of Taiwan”.

The Taiwan authorities set up a dedicated office, money laundering photograph by blow: Golden Finance

According to an article in the Whalecalls display, Bank of Taiwan and not before the implementation of strict AML/KYC requirements, but they provided enough to follow the American supervision. However, the recent amendments to these requirements. The United States Department of Financial Crimes Enforcement Network (Fincen) has started to demand money transfer services companies to report suspicious activity funds.

The Fincen website says: “when the money service business (MSB) transactions is suspected or more than $2000, MSB need to report to Fincen.”

The agency said the bitcoin exchange has been classified as a monetary service company (MSB).

Although the United States has tightened up on monetary service companies (MSB) control, and Taiwan also have to strengthen the work of AML/KYC plan. According to Taiwan media reports, March 16th, the Taiwan authorities set up an office, is committed to the fight against money laundering behavior to help the market to create a more transparent and orderly financial environment.

Taiwan itself has to strengthen the work of AML/KYC to photograph: Golden Finance

According to reports, in August last year, Taiwan Mega banks due to bad compliance, there are a large number of suspicious transactions and was identified by its New York branch and Panama branch, the New York Department of financial services (DFS) opened a $180 million ticket to the bank.

On the establishment of the AML office in Taiwan supervision department shortly after the bitcoin Exchange began charging problem. Because the bank is to carry out risk action and Taiwan determined to restore the reputation, so bitcoin exchange in the case of Taiwan looks quite serious.

Leave a Reply

Your email address will not be published. Required fields are marked *