Home Cryptocurrency Taiwan Implements New AML Regulations on Crypto Exchanges as Prices Drop Further

Taiwan Implements New AML Regulations on Crypto Exchanges as Prices Drop Further

Earlier this month, it was reported that Taiwan threatened to implement new regulations to tightening anti-money laundering (AML) with targets crypto exchanges. Well, it seems the country has taken a step further to implement the law making it official in the country.

According to Cointelegraph, who reported about the newly drafted Money Laundering Control Act and Terrorism Financing Prevention Act in Taiwan, we might be witnessing more drops in the crypto world.

The regulation was approved by the Legislative Yuan, making the country’s Financial Supervisory Commission (FSC) have full authority over crypto exchanges in the country to be able to ban transactions suspected to be fraudulent.

Meanwhile, BitcoinCashSV is still waxing strong compared to other cryptocurrencies it went from $76 to $114, almost doubling in 24 hours. While Bitcoincash lost 6%, going from $219 to $175. Bitcoingold on the other hand lost 5.2% in price as well, going from $21 to $18.6.

Bitcoin also dropped by 7.9% in the past 24 hours, going from $4,119 to $3,695. Ethereum, which is still in the second place also decreased in price by 7.97% in price, going from $118 to $106.

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