Taiwan Central Bank Proposes Money Laundering Rules for Bitcoin

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April 2 2018

The Central Bank of Taiwan is eyeing new rules that would bring bitcoin under the island’s existing anti-money laundering regulations.

During a meeting with Taiwan’s legislative arm Monday, central bank governor Yang Chin-long was questioned over how the banking authority would address the current “opacity” in bitcoin trading in the country, as highlighted by the recent price plunge, according to Taiwan’s Central News Agency.

Responding to parliament member’s enquiries, the governor said the central bank has increased its efforts in monitoring the volatile movements of bitcoin prices and will issue warnings to investors over the risks of cryptocurrency transactions.