Taiwanese Central Bank Governor Yang Chin-long stated that the development of digital currency (CBDC) is not an international competition, and being the first to launch does not guarantee success. He disclosed that the Central Bank of the Republic of China (Taiwan) will conduct three scenario tests for the digital New Taiwan Dollar. Despite no current…
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Taiwanese national and dark web drug dealer Rui-Siang Lin, ‘Pharaoh’, who allegedly made more than $100 million in cryptocurrency sales of illegal narcotics, has been arrested by U.S. authorities. Lin used the identity “Pharoah” to operate the online “Incognito Market” for nearly four years and was arrested at New York’s John F. Kennedy Airport on…
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Binance has teamed up with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office to solve a significant case involving cryptocurrency-assisted money laundering. The investigation centered around illicit funds amounting to nearly NT$200 million, equivalent to approximately $6 million, the exchange said in a press release shared with CryptoNews. Per the announcement,…
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Taiwan prosecutors charged 32 individuals with fraud and money laundering linked to ACE Exchange, the Taipei Times reported Friday. The Taipei District Prosecutors’ Office indicted key figures involved with the exchange. These include founder David Pan, his business partner Lin Keng-hong, and former chairman Wang Chen-huan. In a staggering fraud, prosecutors estimate over 1,200 people lost…
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The government of Taiwan has acknowledged the cooperation Binance has offered to domestic law enforcement agencies. According to local reports, Binance is the only offshore exchange that assists the government in dealing with virtual asset fraud cases, allowing authorities to access the accounts involved in these actions and deposit the assets derived from these schemes.…
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The Financial Supervisory Commission (FSC) of Taiwan has announced its intention to propose a new draft of digital asset regulations for the country in September 2024. The upcoming draft bill will aim to create more effective regulations for digital asset markets and to assure the safety of investors, said Huang Tien-mu, chairman of the FSC,…
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Source: Pexels Taiwanese law enforcement has initiated an investigation into online influencers and community members involved in promoting a Polymarket contract related to Taiwan’s upcoming election. According to a report from Taiwan-based media outlet BlockTempo, the country’s authorities have sent subpoenaes to several influencers and individuals within the crypto community. Polymarket allows users to place bets on…
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Taipei Blockchain Week 2023 — Finance Cupcake. Photo by: Tanzeel Akhtar Taipei Blockchain Week kicked off this week with around 2,000 people from the crypto community gathering on Thursday to hear industry players discuss blockchain trends ranging from Llayer 1’s role in Web3’s in 2024 to the future of decentralized finance (DeFi). The event opened…
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Source: pexels Taiwan’s Financial Supervisory Commission (FSC) is exploring the possibility of introducing cryptocurrency exchange-traded funds (ETFs). The FSC revealed that it is closely studying foreign cryptocurrency futures products and ETFs. The intention is to gradually ease restrictions in alignment with global market conditions, FSC revealed to local media. The context of this exploration coincides…
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The exchange confirmed its chief operating officer’s brief relationship with an alleged money laundering group in a statement on Nov. 13. Taiwanese cryptocurrency exchange Bitgin is under investigation by the country’s police force for money laundering. According to local news reports early this week, Yuting Zhang, the firm’s chief operating officer, was arrested by Taiwanese…
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