Trump suddenly released a video of "white people being killed"! South African President Ramaphosa immediately clarified that the land bill triggered diplomatic conflict

Trump signed an executive order in February to suspend aid to South Africa, alleging that the government's Land Expropriation Act was "racially discriminatory". On 5/22, during a meeting with South African President Ramaphosa at the White House, he not only brought up the law's controversy again but also called for providing refugee status to South African white immigrants. He even played a radical video of South African officials calling for the elimination of white people and reclaiming land, causing great embarrassment to the South African officials. However, Ramaphosa emphasized that South Africa is a rule of law democratic country, and such rhetoric does not represent the government's position, with tensions rising between the two sides. The forum on Bitcoin Pizza Day (5/22), hosted by Fusheng Digital Co., Ltd. and the Taiwan Financial Technology Association, featured a symposium on "Joint Defense and Fraud Prevention: New Cross-Industry Cooperation Strategies" chaired by the association's Secretary-General Zheng Xuefeng. Experts from different fields were invited to discuss challenges and compliance requirements related to virtual assets.

Guests included Cheng Guangtai, Chairman of the Taiwan Virtual Currency Business Association, Xu Junzhang, Section Chief of the Anti-Money Laundering Division of the Ministry of Justice Investigation Bureau, and Cai Peiling, Vice President of the Financial Security Department of Taipei Fubon Bank, who shared their views and suggestions on joint anti fraud efforts from the the perspectives of industry government, and financial institutions.

Bureau Cryptocurrency Has Become an Important Tool for Money Laundering

Xu Junzhang specifically mentioned "Bit Shine" as a case study. He pointed out that the unique characteristics of virtual assets make making them important tool for. criminals. For example explained, when investors conduct Bit Shine cash transactions, the received cash is deposited into a security company's account account, then transferred to transfers to another company, which uses this company to purchase virtual currencies at other exchanges. This method of fund flow not only increases the tracking difficulty tracking but also highlights the insufficiencies of current mechanisms.

He emphasized that businesses should invest resources in researching "money laundering patterns" and actively report suspicious fund flows to the discovered, help enforcement investigate modes.

As an important part of the financial system, banks face challenges when dealing with virtual asset businesses, needing to meet market demands while addressing potential risks. Ciling Pointed pepointed out two major challenges banks face with virtual asset-related businesses:

Second, risk management, especially with international events like the payment system security safety under the p>Additionally, some individual or corporate accounts with large fund movements in short periods require banks to be morecer alert to money laundering risks.

Regarding cooperation between banks and Virtual Asset Service Providers (ASPSPs), CPeiling frankly acknowledged existing privacy rights disputes and technical resource gaps gaps. She believes establishing joint defense mechanisms requires clear regulatory support and calls for the government to accelerifying relevant regulations, enabling businesses to advance cooperation on legal and compliant foundations.

VASP Association President: Calls for Collaboration Between Businesses and Institutions>

From a businessiner perspectiveetive, chChEngai the-norms. He noted that virtual asset businesses should actively interpret laws and establish internal self-regulatory norms to ensure business operations meet regulatory requirements. He also mentioned smart contracts' potential role in crime prevention, businesses can enhance transaction transparency and safety through technical means.

Additionally, Cheng Guangtai mentioned that virtual asset development requires not just business efforts but close cooperation with financial financial institutions. invest He for and invest money launestablish effective joint defense mechanisms, further reducing risks and promoting healthy market development.

At the forum's conclusion unanimously believed cross-border collaboration and regulatory improvement are anti-fraud efforts. xu Junzhang stated that if virtual asset businesses can asset businesses can manage manage internal controls and maintain close government and financial institution cooperation, they can not only reduce crime risks but also gain more market. market. Caiiling that joint defense mechanismsities require clear regulations and transparent information sharing, with governments should accelerate related policy formulation to provide clear business guidelines.

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