Taiwan has officially ordered that crypto trading platforms should use real names, Finance Magnates reports.
It’s said that such restrictions were made due to compliance with the money laundering requirements and financing terrorism.
The article highlights that all financial institutions of Taiwan have been empowered to ban any anonymous operations and notify them the country’s financial watchdog.
Earlier this year, Chinese Cyberspace Administration developed similar set of rules which deprives the anonymity of blockchain-based services.
In addition to China, Japan developed a 100-page guide for market participants, which, among other things, indicates a complete ban on insider trading and restrictions on operations with anonymous cryptos as well.
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