Taiwan regulator is trying to find the owners 20 crypto ATMs in Taipei – Bits Media

Taiwan Financial Supervisory Commission (FSC) concerned about the appearance 20 crypto ATMs on the streets of Taipei and New Taipei City, and tries to identify their owners.

By
local media reports, This was announced by Lai Shih-bao, a member of the Finance Committee of the Legislative Assembly. (Lai Shyh-bao) during legislative hearings. Lai asked FSC Chairman Huang Tian-mu (Huan Tien-mu) question, How are crypto ATMs regulated in Taiwan?, and a clear answer has yet to be given. However, Tian-mu explained, that cryptocurrencies are considered a virtual asset and are subject to the Anti-Money Laundering Law in Taiwan.

FSC is concerned about the sudden appearance of so many crypto ATMs in the city, as they can become a loophole for money laundering. Therefore, the regulator is trying to find individuals, who installed these cryptomats, and also began to investigate the activities 16 operators of cryptocurrency services, to find out, whether their operations comply with regulatory rules. Based on the results of the investigation, FSC will decide on the future fate of these devices.

According to Coin Atm Radar, in the world already
more than 33,800 crypto ATMs installed. but, according to last year's data from CipherTrace analysts, as the number of crypto ATMs grows, criminals are increasingly using them to launder money.

Recall, that in November, Taiwan's Ministry of Economic Affairs tightened regulation of digital assets, classifying cryptocurrency firms as finance categories, insurance and real estate, and share tokens refer to securities.