The world's largest cryptocurrency exchange, Binance, continues to take steps towards becoming a global exchange.
According to The Block's report, two people familiar with the matter said that Binance had applied to comply with Taiwan's local anti-money laundering rules.
Sources said that the Taiwan Financial Supervisory Commission (FSC) announced at its meeting this week that Binance has applied for Taiwan AML compliance.
At this point, the FSC introduced anti-money laundering rules in July 2021 and declared that exchanges are required to comply with these rules.
Binance has not made a statement on the matter. Likewise, an FSC official declined to comment on whether Binance has provided them with documents to sign up, but stated that they are urging offshore crypto platforms operating in the country to comply with local AML rules.
In addition, although Binance is not legally registered in Taiwan, it is listed in the database of the Ministry of Commerce under the name Binance “Taiwan Branch of Binance International Limited (Seychelles)”.
