Overseas crypto platforms are not allowed to solicit business within Taiwan or from Taiwanese citizens unless they register locally and comply with local AML laws.
The law covers 12 aspects, including a licensing system for virtual assets businesses, rules for their operations, and prohibitions on unfair trading practices.
Five insurance companies and three banks failed to pass the most "severe" scenario and have proposed capital improvement plans.
The six month extension allows US persons to continue clearing swaps on TAIFEX for proprietary trades while a formal CFTC exemption is pending.
The biggest impact for banks is expected to be from the higher risk weighting applied to equity investment positions.
The FSC reminds the public of the risks and legal consequences of buying overseas insurance products that have not been approved by local authorities.
Two Fubon employees and one Prudential employee mirrored the trades of the funds they were managing, using third-party accounts.
Banks ranked in the global top 50 would be subject to looser restrictions for setting up financial asset management units in Taiwan.
The plan targets the e-commerce, third-party payments, and electronic game industries. Lawmakers say the plan does not meet expectations.
The guidelines will prohibit unregistered overseas firms from operating in and soliciting business from Taiwan.
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