Good news from the Taiwan VASP Association Preparatory Team, composed of domestic encryption exchanges! On the 25th of this month, the Ministry of the Interior officially sent a letter allowing the association to be formed, and it is estimated that the association will be officially established within this year.
Background:
Taiwan VASP Association “13 Regulations” First Look: Membership fees, business classification, voting governance?
The Taiwan VASP Association Preparatory Team, which has been fundraising for a long time, has made significant progress. On March 25th, the Ministry of the Interior officially sent a letter to XREX Chain Science Co., Ltd. (represented by the initiator Xiao Huizong), allowing the establishment of the “Republic of China Virtual Currency Business Association” in accordance with the law. There are a total of 22 companies listed in the current list of initiators.
The Taiwan VASP Association Preparatory Team was established in September 2023 as the preparatory office for Taiwan’s virtual asset platform and trading business association. The participating companies are not only responsible for internal coordination, but also closely communicate with the Ministry of the Interior, the Financial Supervisory Commission, and other regulatory authorities. Finally, on December 21, 2023, the consultant Cai Yuling submitted the application to the Ministry of the Interior, and then submitted the amended document on March 12, 2024. Now they have received the approval document from the Ministry of the Interior, and the association has officially started in accordance with the law.
There are 22 companies participating in the list of initiators.
According to the information from the association, a total of 22 VASP companies are listed in the final list of initiators, as follows:
The order is based on the list of virtual currency platforms and trading businesses that have complied with the Anti-Money Laundering regulations issued by the Financial Supervisory Commission:
– Modern Wealth Technology Co., Ltd. (MaiCoin)
– Cross-Link Technology Co., Ltd. (Chainss)
– Rybit Co., Ltd.
– XREX Chain Science Co., Ltd.
– Taiwan Zhi Jing Co., Ltd.
– ZomFast Co., Ltd.
– BitShine Co., Ltd.
– GoldBit Co., Ltd.
– CYBAVO Co., Ltd.
– BitAsset Co., Ltd.
– BitoPro Co., Ltd.
– HOYA BIT Co., Ltd.
– BitstreetX Co., Ltd.
– WoHeng (Taiwan branch of Wohen Technology Co., Ltd., British Virgin Islands)
– Train’s Co., Ltd.
– COINSHA Co., Ltd.
– Buycoin Co., Ltd.
– HzBit Co., Ltd.
– OSE Co., Ltd.
– CoinWorld International Management Consulting Co., Ltd.
– Bityacht Co., Ltd.
– Zone Wallet Co., Ltd.
The association stated that it will carry out “preparatory stage” and “establishment stage” work in accordance with the regulations of the Ministry of the Interior’s People’s Group Law. The preparatory committee should complete the preparatory work within 3 months from the date of establishment, and those with special circumstances may apply for an extension of 1 month with the approval of the competent authority. In other words, the association will be officially established in the second half of 2024.
The VASP Association Preparatory Team will hold regular meetings every two weeks to ensure the progress of work. The association welcomes Taiwan’s cryptocurrency users and concerned citizens to regularly check the relevant progress and meeting records at the following link:
https://www.twvasp-po.org.tw/
Related Reports:
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Taiwan VASP Association “13 Regulations” First Look: Membership fees, business classification, voting governance?