No surprises, the Financial Supervisory Commission updated the list of compliant virtual asset service providers today, leaving only eight. (Background: New regulations from the Financial Supervisory Commission: Mandatory disclosure of 'recipient's name' for transfers to reduce transaction errors and fraud risks) (Additional background: Cathay United Bank can now hold Bitcoin! The first wave of approvals is targeted at high-net-worth clients) Today, Taiwan's Financial Supervisory Commission updated the 'Anti-Money Laundering List of Virtual Asset Service Providers'. Currently, most of the compliant operators are exchanges, and only 8 providers remain, a reduction of 4 from the last announced list. Which 4 providers have exited the anti-money laundering registration? We compared the past lists and found the following providers have left the market: 'BStyle' Bichengdai Technology, 'BitstreetX' Sanchuan Token, 'WOO Network' Cuitek Technology, 'BitYacht' Biyate Technology. It is understood that these providers, like those who withdrew from the market previously, have abandoned virtual currency services mainly due to the special law requirements of the Taiwan Financial Supervisory Commission, increased compliance costs, and a ban on cash transactions without proof of capital, making it difficult to conduct OTC business. At the same time, the member list of the Virtual Currency Business Association has also been updated, now listing 8 providers as members. Many industry experts previously estimated that Taiwan's crypto service providers might only be in single digits, with only oligopolistic competition, and this prediction is gradually becoming a reality. Related reports: Brazil's central bank $140 million reserve was hacked! The stolen funds were converted to Bitcoin, and the hacker's cost was only $2,760, with service providers becoming a vulnerability. How much tariffs does Taiwan impose on the United States? Probably not as low as you think. Taiwan's collective anxiety over semiconductor tariffs: What is the US 'Section 232'? 'Single digits! Taiwan's virtual currency service providers now number 8, and oligopolistic competition begins.' This article was first published in BlockTempo (the most influential blockchain news media).

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