PRNewswire
Taipei [Taiwan], September 24: XREX Taiwan, a subsidiary of XREX Group and a leading virtual asset service provider, has been officially approved for Anti-Money Laundering (AML) registration by the Securities and Futures Bureau (SFB) under Taiwan's Financial Supervisory Commission (FSC). This approval positions XREX Taiwan as one of the first nine Virtual Asset Service Providers (VASPs) to navigate the nation's stringent new regulatory framework successfully.
Following rigorous audit and review, the FSC has authorized XREX Taiwan to operate across all four core business categories defined by Taiwan's new regulatory framework: 1) virtual asset exchange operations, 2) virtual asset trading platform services, 3) virtual asset transfer services, and 4) virtual asset custody services.
XREX Taiwan's success is a culmination of its proactive approach to regulatory alignment. The company first completed its AML compliance declaration with the FSC in March 2022, demonstrating a commitment to responsible operation well before the new statutory framework was introduced. This track record of foresight and diligence ensures XREX Taiwan is well-equipped to uphold the highest standards of security, consumer protection, and operational excellence as required by the new regime.
Pursuant to the amendment to Taiwan's Money Laundering Control Act in July 2024, which established a statutory registration requirement for VASPs and marked a paradigm shift for the industry, the FSC introduced and enforced new AML registration regulations effective November 30, 2024.
Under the regime, VASPs are required to complete registration before conducting regulated activities. Violations of these new regulations carry severe penalties, including imprisonment for up to two years and fines of up to NT$5 million for individuals, or up to NT$50 million for legal entities.
"This milestone advances user protection and market integrity in Taiwan and offers a constructive reference for other regulators," said Wayne Huang, Co-founder and CEO of XREX Group. "Our focus is clear: protect users, work with peers, and help build a more mature, resilient digital-asset ecosystem worldwide."
This milestone in Taiwan complements the XREX Group's global regulatory footprint. Its Singaporean entity holds a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), operating the B2B stablecoin-first cross-border payment platform, XREX Pay.
About XREX Group
XREX Group is a blockchain-enabled financial institution working with banks, regulators, and users to redefine banking together. We provide services to businesses in or dealing with emerging markets, and novice-friendly financial services to individuals worldwide.
Founded in 2018, XREX offers a full suite of services such as digital asset custody, wallet, cross-border payment, fiat-crypto conversion, cryptocurrency exchange, asset management, and fiat currency on-off ramps.
Sharing the social responsibility of financial inclusion, XREX leverages blockchain technologies to further financial participation, access, and education.
XREX Singapore operates under the Major Payments Institution (MPI) license issued by the Monetary Authority of Singapore (MAS). XREX Taiwan is a regulated VASP that completed its Compliance Declaration on Anti-Money Laundering (AML) with Taiwan's Financial Supervisory Commission (FSC) in March 2022. It passed its AML registration with the FSC in September 2025, becoming one of nine approved VASPs.
Media contact:
Yoyo Chih Wei Yu
yoyoyu@xrex.io
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