- According to media reports, the exchange is seeking to comply with local AML requirements.
- Binance, however, has not yet officially confirmed this information.
The Taiwan Financial Supervisory Commission (FSC) said in a closed-door meeting on Aug. 8 that cryptocurrency exchange Binance has applied for registration in the region. This was reported by The Block, citing two sources familiar with the situation.
According to the publication, the exchange is seeking to comply with local anti-money laundering (AML) regulations. The company itself has not confirmed this information.
In a conversation with The Block, an FSC spokesperson declined to comment on whether Binance has indeed filed paperwork to register with the regulator. However, it urged offshore crypto platforms operating in the region to comply with local AML regulations.
Binance is already working with local law enforcement in Taiwan to combat cybercrime. In June, the exchange announced a partnership with Taiwan’s Bureau of Criminal Investigation.
Binance has been licensed as a provider of bitcoin and other digital asset-related services in El Salvador. They enable the exchange to provide custodial services and digital wallet services, process cryptocurrency payments and operate a cryptoasset exchange platform in the country.
They allow the exchange to provide custodial services and maintain digital wallets, process cryptocurrency payments and operate a cryptoasset exchange platform in the country.