The largest physical virtual currency exchange in Taiwan, "Bitshine," has been reported to be involved in a major money laundering case. The Criminal Investigation Bureau's Second Division conducted synchronized searches across multiple locations nationwide on April 24th, discovering that the exchange allegedly helped a fraud group launder money, with monthly cash flows reaching hundreds of millions, and 7 suspects have been arrested and transferred to the Shilin District Prosecutor's Office for investigation.
It is understood that "Bitshine" was an early business that passed anti-money laundering declarations, with the company changing hands before the registration system was implemented, and actively integrating OTC Bit merchants and physical stores across Taiwan, currently moving towards the registration system. "Bitshine" is also a member of the Virtual Currency Association.
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