Taiwan Moves to Capture Bitcoin Under Money Laundering Laws

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April 11 2018

The government of Taiwan has moved a step closer to regulating bitcoin under anti-money laundering (AML) rules.

In an announcement on Tuesday, the state’s Ministry of Finance said it will push for the regulation of cryptocurrencies under same AML rules already covering the traditional financial sector.

Citing guidance issued by Financial Action Task Force, an intergovernmental anti-money laundering organization, the ministry further stated that the conclusion was reached after meetings with various financial regulators and law enforcement agencies, including its central bank and the Financial Supervisory Commission.