Bixiang claims that "the Financial Supervisory Commission is the only authority authorized"! Peng Jinlong: Just because the registration is passed does not mean that the behavior is legal

The largest physical virtual currency exchange in Taiwan, "Bit," claiming to be the "only authorized by by the Financial Financial Supervisory Commission ((FS," suspected of being involved in a money laundering scheme by a fraud group. response, investigative authorities have launched a search, and 7 FSC Chairman Peng Jin-long clarified at the Legislative Yuan on 4/30 that advertisements do not equal certification, and businesses have only completed money laundering prevention registration, which does not mean their actions are entirely legal. He also emphasized that they will promote a virtual asset special law to implement supervision.

Bit claimed "only authorized by FSC", advertisement exaggeration raised controversy

The largest physical virtual currency exchange in Taiwan, "Bit," was exposed for colluding with a fraud group, suspected of money laundering, and claiming to be the "only FSC-merchant in Taiwan," which raised concerns from KMT legislator Lin De-fu during a Legislative Yuan p inquiry.

In FSC Chairman Peng Jin-long emphasized at The 4/30 that bit not equal authorization, simply completed the "money laundering prevention declaration registration" does not mean all all actions are legal, and advertisements are not entirely true.

Law Bit does not mean all actions are compliant

Peng Jin-long stated that currently, virtual asset businesses are not fully managed managed, and and the the FSC only requires all virtual asset platforms and trading businesses (VASP) to complete money laundering prevention law registration by 3/31 operate in Taiwan. Bit has completed this registration><.

However, at the time of the incident, investigative authorities have been sent to understand the situation.Ly currently businesses are managed, will accelerate management.

New law implemented, changing from declaration system

Regarding the current supervision mechanism, Chairman Peng explained that after last year's amendment, has from original"" to system "registration system". Businesses that fail to complete registration within within the deadline may face criminal responsibility. Currently, 31 businesses have completed registration application.

Virtual asset special law to law to expected to Executive June h2Eng-outC has beenting "Asset Service Law", currently collecting various opinions, and to submit to Executive Yuan before Executive Yuan before 6/30. He emphasized that while cannot guarantee immediate comprehensive management, this special law will be an important step towards "more comprehensive" management.be in the future, future, will use strict management span to select businesses<<><.incident again highlights the gray areas in the virtual asset industry industry industry under an unsound supervision system While the has initially controlled through money money laundering prevention mechanism, it is fully curbing exaggerated advertisements and potential illegal actions. With the promotion of the "Virtual Asset Service Law",", the market order is expected to be further rectified.

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