Kuomintang legislator Wang Hongwei pointed out today at the Finance Committee that Binance has been named by local regulatory agencies in the United States, Canada, and India for violations of anti-money laundering regulations, leading to continuous international penalties. However, the Ministry of Justice in Taiwan has chosen to cooperate with Binance, which has been implicated in money laundering, to teach Taiwan’s law enforcement agencies how to prevent money laundering. Wang Hongwei questioned whether this behavior is helping the exchange launder money.
Deputy Prosecutor General Chien Mei-hui responded that the prosecution and Criminal Investigation Bureau need to access financial flow and transaction data when conducting criminal investigations, hence the necessity to establish channels for data inquiries with international virtual asset exchanges, with Binance being one of them.
Legislator Wang Hongwei further accused Binance of involvement in fraudulent activities during subsequent questioning, despite being able to meet with relevant departments of the Ministry of Justice multiple times and even hold seminars. Finally, Wang Hongwei requested the Ministry of Justice to immediately cease cooperation with Binance and seek out other internationally compliant exchanges.
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