Taiwanese officials must disclose crypto investments

Taiwan is waging a rigorous crackdown on money laundering.

Taiwan is waging a rigorous crackdown on money laundering. Now the Ministry of Justice wants to force officials to disclose their crypto investments.

The Ministry of Justice wants Taiwanese officials to disclose their investments, including crypto holdings. This is stated in an official press release.

According to the press release, officials must report investments worth more than one million New Taiwan Dollars (about $32,900). Officials would also have to disclose their crypto holdings.

The sector has had strict anti-money-laundering and terrorism financing rules in place since July 2021. Generally, the sector, however, remains largely unregulated territory.

But regulators are tightening the reins here as well. For example, Taiwan banned crypto purchases with credit cards in July of last year.