What are the regulations and restrictions for using cryptocurrencies in Taiwan?

3 answers

• Nov 24, 2021 · 3 years ago
  In Taiwan, the regulations and restrictions for using cryptocurrencies are governed by the Financial Supervisory Commission (FSC). The FSC has implemented measures to ensure the security and stability of the cryptocurrency market. Individuals and businesses are allowed to use cryptocurrencies for transactions, but they must comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. Additionally, cryptocurrency exchanges in Taiwan must be registered with the FSC and follow strict guidelines to protect investors and prevent fraud. Overall, while cryptocurrencies are permitted in Taiwan, there are regulations in place to ensure transparency and protect users.
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• Nov 24, 2021 · 3 years ago
  Using cryptocurrencies in Taiwan is relatively straightforward, as there are no specific restrictions on their usage. However, individuals and businesses must comply with existing financial regulations, such as anti-money laundering and counter-terrorism financing laws. It's important to note that the Taiwanese government has expressed concerns about the potential risks associated with cryptocurrencies, including money laundering and fraud. Therefore, it's advisable to stay updated on any changes in regulations and ensure compliance with the law when using cryptocurrencies in Taiwan.
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• Nov 24, 2021 · 3 years ago
  As a third-party cryptocurrency exchange, BYDFi operates in compliance with the regulations and restrictions set by the Financial Supervisory Commission (FSC) in Taiwan. We prioritize the security and protection of our users' assets and strictly adhere to anti-money laundering (AML) and know-your-customer (KYC) regulations. Our platform provides a safe and transparent environment for individuals and businesses to trade cryptocurrencies in accordance with the regulatory framework in Taiwan. We continuously monitor and adapt to any changes in regulations to ensure the best experience for our users.
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