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Taiwan's FSC to Ban Unregistered Offshore Crypto Exchanges

Taiwan's Financial Supervisory Commission (FSC) is taking steps to regulate cryptocurrency exchanges operating within the country's borders. According to a recent report by CNA, the agency plans to ban offshore crypto exchanges that fail to comply with requests to register with Taiwanese regulators. The FSC has drafted ten guiding principles for the regulation of virtual currencies, expected to be published later this month. Among the FSC's guidelines is a requirement for exchanges to implement anti-money laundering procedures. By imposing these restrictions, Taiwan joins a growing list of governments seeking greater oversight of the cryptocurrency industry.

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