Bitcoin, Crypto currency, Blockchain

Bitcoin regulation: Taiwan pushes money laundering in a tie

Bitcoin, money laundering, and terrorism is a team of three, has written in the minds of the Bitcoin critics in a long time. To address this Problem, work together, governments with public authorities of the various Nations and try to create appropriate guidelines. Today: Taiwan.

That Bitcoin is neither money laundering and for the financing of terrorism particularly well, by now it should be known. Even if it looks like some Privacy Coins for such purposes is already better, there are still rules by regulatory authorities, which prevent (or try it). Corresponding Bitcoin-regulatory approaches are currently made in Taiwan.

There, the legislature has now expanded the money laundering regulations, to make it more difficult in the future-money laundering currencies with Bitcoin and other Crypto. As Focus Taiwan reports, were the rules of the 2. November in power. The new system gives the Taiwanese financial Supervisory henceforth, the option of anonymous financial transactions to stop.

Safe Bitcoin exchanges are thriving

The authority Bitcoin may ask stock markets to “clear the name of-systems”. Corresponding approaches are already in South Korea. According to suspicions of insider training by government officials, such as Hacks and poor security systems, the government introduced a real name System, in which you can act on Bitcoin exchanges only if they registered his identity beyond doubt and check.

Update to improve System

If in Taiwan now refuse to follow these guidelines, you will be prompted for the banks, the respective Transfers rejected. Also the financial supervision encourages you to report suspicious cases to the authorities. The Ministry of justice of the country, is expected to be through the strengthening of the existing General anti-money laundering act.

This led the government in 2016, has not been able to prevent, however, that it came to incidents of money laundering. From the latest Update, the government and the legislature are expected during the coming Evaluation by the Asia/Pacific Group of 5. to 16. November cut off in security issues much better than before.

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