#taiwan

Taiwan is accelerating the adoption of anti-money laundering (AML) measures, which are expected to be approved on November 30.

The Financial Supervisory Commission (FSC) of Taiwan announced on October 8 that institutions can begin submitting applications to test bitcoin custody services. This information was provided by the Central News Agency.

David Pan, the founder of Taiwan's ACE Exchange, has been arrested under suspicion of fraud. His arrest is part of a wider operation that led to the detention of 13 other individuals and the seizure of over $6.4 million in suspected illegal funds.

Circle, the issuer of the USDC stablecoin, is expanding its footprint in Taiwan through a partnership with crypto exchange BitoGroup and convenience store chain FamilyMart.

OpenAI plans to build its first in-house AI chip in 2026. For this purpose, the company partners with manufacturers Broadcom and TSMC (Taiwan Semiconductor Manufacturing Company), Reuters reports.

Taiwan's law enforcement agencies have requested the court to authorize the arrest of ACE Exchange's president Chenhuan Wang and four others on accusations of money laundering and fraud. They're also seeking to limit their interaction with others while under detention.

Taiwanese authorities have cracked down on the country's largest cryptocurrency money laundering case, involving a staggering $324 million. 4 individuals, including their leader, a suspect known as Chiu, have been arrested in connection with the elaborate scheme.

The new eKinekt Bike Desk turns kinetic energy from cycling into an electrical charge. This technological wonder has two USB Type-A ports and one USB Type-C port for charging laptops or phones. In addition, the mobile app keeps track of energy generated and calories burned. Acer's training machine is meant to empower a healthy lifestyle. We guess in Ukraine, many people would prefer cycling rather than jogging to the nearest Point of Invincibility to charge their devices. The retail price is $1,000. Unfortunately, for now, it is available in the U.S., Canada, and Taiwan only.