Taiwan Central Bank proposes Money Laundering Rules for Bitcoin

collected by :Irax John

The Central Bank of Taiwan Information Systems eyeing fresh rules which would bring bitcoin under the island's existing anti-money laundering regulations. During a meeting with Taiwan's legislative arm Monday, central bank governor Yang Chin-long was questioned over the method the banking authority would address the current "opacity" in bitcoin trading in the country, as highlighted with the recent value plunge, according to Taiwan's Central break news Agency. Further to which effort, Yang told the banking authority has too recommended to Taiwan's Ministry of Justice which bitcoin trading ought be regulated under current anti-money laundering (AML) rules in the financial sector. Yang's comments too come at a time the time other great Asian governments have endeed moved to regulate cryptocurrencies under anti-money laundering rules to protect financial crimes. Malaysia, too, ushered in an anti-money laundering policy in early March, stipulating which know-your-customer processes have to be followed for all cryptocurrency interchange activities, involving crypto-to-crypto trading.

Japan's Central Bank Wants You to Be Wary of Cryptocurrencies

Bitcoin investing Information Systems common in Japan, however the nation has too had multi high-profile cryptocurrency heists. Now, the central bank has come up with a rather negative Q&A for those seeking answers on cryptos. and was launched on a financial education website run with the Bank of Japan. BOJ Governor Haruhiko Kuroda has formerly expressed apprehension about them, & the finance ministers & central bank governors of the Group of twenty nations final 30 days warned which cryptos can destabilize financial markets. The BOJ's Q&A, published final week, gives a basic overview of cryptocurrencies, explaining the method they're different from traditional currencies, notes there's no central bank to back them up, & specifics the method you won't needful profit from investing in them.

Japan's Central Bank Wants You to Be Wary of Cryptocurrencies

Taiwan Central Bank Governor proposes Bitcoin Transactions ought Fall Under AML Regulation

as mentioned in The Central Bank of the Republic of China (Taiwan) has recommended which Bitcoin (BTC) trading ought be regulated under the section of Justice's anti-money laundering (AML) regulations, native break news outlet Focus Taiwan reports today, April 2. In October of final year, Taiwan's Financial Supervisory Commission (FSC) had shown backing for premier Coin Offering (ICO), cryptocurrency, & Blockchain adoption & innovation within the country. In response to worries broached about BTC's soon falling prices at a meeting by Taiwan's Legislative Yuan Finance Committee, Yang Chin-long, the governor of the central bank, told which the bank's "response measures" to the noted "opacity" of BTC transactions are to 1st remind Businessmen of risks, & then to move towards BTC AML regulation. Yang Chin-long became governor of the central bank just in February, where he immediately indicated the bank's friendly behavior towards Blockchain technologies in his speech at the handover ceremony. According to Yang Chin-long, generality of Taiwan's BTC mining tech industrialists are located in mainland China, however which doesn't mean which the Gov shouldn't pay attention to the influence of BTC mining on Taiwan's Dominance usage.

Australia's Central Bank Holds averages at Record-Low 1.5%

Australia's central bank left interest averages unchanged, with Governor Philip Lowe instead Turning around the spotlight abroad to hight unite states funding costs which can injury native borrowers. U.S. $ short-term interest averages are "increasing for reasons other than the promote in the Fed funds rate. Rising borrowing costs drop Under would be uncomfortable for a central bank endeed concerned about the resilience of households laboring under record-high debt & stagnant wages. Key UncertaintyAustralia's economy Information Systems hampered with high debt after households tapped low averages to chase home prices higher in bubble-like conditions in the eastern capitals. "Inflation Information Systems likely to remember low for some time, reflecting low development in labor costs & powerful competition in retailing," Lowe said.

Australia's Central Bank Holds Rates at Record-Low 1.5%

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