The Central Bank of Taiwan is working on developing anti-money laundering rules for Bitcoin, Focus Taiwan reported.
Taiwan's central bank Governor Yang Chin-long assured lawmakers today that “Bitcoin (EXANTE: Bitcoin) markets and movements have been monitored and are still being monitored.”
Yang reiterated the need for local Bitcoin investors to pay close attention to possible risks when they trade the digital currency.
The Central Bank proposes that the country adopts the current anti-money laundering (AML) rules for Bitcoin trading. This proposal has already been forwarded to the Ministry of Justice.
Other Asian countries have already started combating money laundering. Since January 30, South Korea has banned anonymous trading in cryptocurrencies. The government of Malaysia in early March introduced mandatory verification for users of all trading platforms.