Binance seeks AML compliance in Taiwan
Binance is pursuing anti-money laundering compliance in Taiwan, indicating the prominent exchange’s intent to enter the region’s crypto market. During a regulatory draft meeting, the Taiwan Financial Supervisory Commission announced that Binance is among the entities seeking a declaration of anti-money laundering (AML) measures. The application to register in Taiwan under these new measures signifies that Binance is interested in entering the region’s crypto market. An Aug. 11 report from the local media states that Binance has applied to be registered in Taiwan under the Financial Supervisory Commission (FSC) and Money Laundering Control Act. The report references Chen Peiyun, the co-founder of Taiwan’s crypto exchange BitShine. He disclosed that the FSC mentioned Binance as one of the potential exchanges considering entry into the Taiwanese crypto market. Given the restriction of the AML declaration to Taiwan-registered entities, Binance is anticipated t...