Breaking News: CoinWorld (Yin Tianxia) has been removed from the "Compliance exchange" list by the Financial Supervisory Commission! It may not be able to continue operations.
According to the FSC's update of the list of local compliant virtual currency operators, CoinWorld was also removed on the 8th. (Synopsis: The FSC wants Line to officially delete "all cryptocurrency groups"? Competent authority: It's a rumor) (Background supplement: Cointhink Technology was removed from the Financial Regulatory Commission!) After removing the compliance qualification after the gold inspection, I may not be able to continue to operate ) Following the removal of the list of compliant virtual currency operators by the FSC on May 7, the FSC updated the list of operators again today (8), and Yin Tianxia International Consulting Management Company (CoinWorld), which was originally among them, was removed from the washing registration list and is no longer a domestic compliant virtual currency operator. Chairman Peng Jinlong said at the end of April that he had sent colleagues from the Inspection Bureau to check accounts and conduct financial inspections. Yin Tianxia (which operates under the brand CoinWorld), which operates more than a dozen physical stores in various counties and cities, was also removed from the compliance list today. Previously, Yin Tianxia had submitted an application for anti-wash registration to the FSC at the end of March, and now the list of people removed from the business may have failed the financial inspection of the FSC. Key points of the FSC's financial inspection The FSC stressed that all businesses engaged in virtual asset business in Taiwan must complete compliance with the Money Laundering Prevention Act with the FSC. Chairman Peng Jinlong also previously said that after the Binxiang Technology incident, the relevant licenses and operating qualifications of VASP will be more strictly reviewed in the future, and this month's financial inspection of cryptocurrency industry projects focuses on these five points: Anti-Money Laundering (AML): Check whether the industry has effectively implemented the money laundering prevention regulations. Countering the Financing of Terrorism (CFT): Assesses the measures taken by the industry to prevent the financing of terrorist activities. Counter-Weapons Proliferation (CPF): Checks whether nuclear companies comply with regulations to prevent the financing of the proliferation of weapons of mass destruction. Consumer protection: Check whether the protection mechanism for customers' rights and interests is perfect. Fraud prevention measures: Assess the ability of operators to prevent and deal with fraud incidents. Now that Binxiang Technology and Yin Tianxia have been removed from the list, that is to say, the current physical stores, networks and other channels of the two operators should no longer be able to provide customer transactions, custody of cryptocurrencies and other services. Related reports The FSC stressed that "Taiwan exchanges should thoroughly investigate money laundering" and expand financial inspections; Guild urges cooperation with regulation Taiwan welcomes the era of crypto investment? The Association of Banks will recommend that the FSC: include foreign virtual asset ETFs in the scope of trust investment The board of directors of Beijing Securities clarified: The person in charge of the ACE exchange "has the same name and surname" is not me! CoinWorld was removed from the list of "compliant exchanges" by the FSC! This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".
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Breaking News: CoinWorld (Yin Tianxia) has been removed from the "Compliance exchange" list by the Financial Supervisory Commission! It may not be able to continue operations.
According to the FSC's update of the list of local compliant virtual currency operators, CoinWorld was also removed on the 8th. (Synopsis: The FSC wants Line to officially delete "all cryptocurrency groups"? Competent authority: It's a rumor) (Background supplement: Cointhink Technology was removed from the Financial Regulatory Commission!) After removing the compliance qualification after the gold inspection, I may not be able to continue to operate ) Following the removal of the list of compliant virtual currency operators by the FSC on May 7, the FSC updated the list of operators again today (8), and Yin Tianxia International Consulting Management Company (CoinWorld), which was originally among them, was removed from the washing registration list and is no longer a domestic compliant virtual currency operator. Chairman Peng Jinlong said at the end of April that he had sent colleagues from the Inspection Bureau to check accounts and conduct financial inspections. Yin Tianxia (which operates under the brand CoinWorld), which operates more than a dozen physical stores in various counties and cities, was also removed from the compliance list today. Previously, Yin Tianxia had submitted an application for anti-wash registration to the FSC at the end of March, and now the list of people removed from the business may have failed the financial inspection of the FSC. Key points of the FSC's financial inspection The FSC stressed that all businesses engaged in virtual asset business in Taiwan must complete compliance with the Money Laundering Prevention Act with the FSC. Chairman Peng Jinlong also previously said that after the Binxiang Technology incident, the relevant licenses and operating qualifications of VASP will be more strictly reviewed in the future, and this month's financial inspection of cryptocurrency industry projects focuses on these five points: Anti-Money Laundering (AML): Check whether the industry has effectively implemented the money laundering prevention regulations. Countering the Financing of Terrorism (CFT): Assesses the measures taken by the industry to prevent the financing of terrorist activities. Counter-Weapons Proliferation (CPF): Checks whether nuclear companies comply with regulations to prevent the financing of the proliferation of weapons of mass destruction. Consumer protection: Check whether the protection mechanism for customers' rights and interests is perfect. Fraud prevention measures: Assess the ability of operators to prevent and deal with fraud incidents. Now that Binxiang Technology and Yin Tianxia have been removed from the list, that is to say, the current physical stores, networks and other channels of the two operators should no longer be able to provide customer transactions, custody of cryptocurrencies and other services. Related reports The FSC stressed that "Taiwan exchanges should thoroughly investigate money laundering" and expand financial inspections; Guild urges cooperation with regulation Taiwan welcomes the era of crypto investment? The Association of Banks will recommend that the FSC: include foreign virtual asset ETFs in the scope of trust investment The board of directors of Beijing Securities clarified: The person in charge of the ACE exchange "has the same name and surname" is not me! CoinWorld was removed from the list of "compliant exchanges" by the FSC! This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".