Taiwanese Authorities Banned Any Anonymous Crypto Transactions, Fine Is About Half A Million Yuan

Recently we have written that Japan banned anonymous crypto transactions, Taiwan decided to follow it in the footsteps. According to FinanceMagnates, Taiwanese users of any cryptocurrency trading must reveal their real names.

Banks were given the the authority to dismiss any anonymous transaction or transfer. After that, they are bound to report to the Financial Supervisory Commission. If a non-financial enterprise is found guilty, it is to pay fine of 50,000 yuan; if it is a financial institution, then the fine grows in 10 times and accounts for 500,000.

These changes were made for prevent money laundering and other illegal financial actions. Anonymous crypto operations may bring some political disbalance in the world, so we want to remind you

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