A senior detective revealed that illegal coin dealers in the "Greater Taipei area" have daily OTC trading volumes exceeding 100 million TWD, raising questions in the community: Why aren't they being arrested if they know?

In the current society where the investment atmosphere is prevalent, many fraud groups take advantage of investors' eagerness to make money, and design many investment fraud routines to defraud investors of their hard work. Most of the stolen money obtained by these frauds will be laundered out using virtual currency, which undoubtedly increases the difficulty for the police to track the flow of stolen money. In addition, according to senior criminal police, the daily OTC trading volume of street coin dealers in Shuangbei exceeds NT$100 million, which may include a lot of fraudulent stolen money. (Summary: P2P transactions are all illegal? Taiwan's Financial Regulatory Commission shouted "seven years of personal currency merchant relations", and the draft VASP special law was sent to the Executive Yuan in June) (Background supplement: Taiwan's first case" Kaohsiung personal currency merchant was arrested for trading USDT, and privately trading cryptocurrencies may violate the law? In the current investment climate, stock and cryptocurrency investment has become one of the channels for people to earn additional income. However, after Trump offered reciprocal tariffs, global financial markets were violently shaken. Experts worry that such market volatility may make fraud syndicates more and more rampant, taking advantage of investor panic to carry out investment fraud. According to TVBS, Wang Boqi, associate professor of the Department of Crime Prevention at Mingchuan University, said in an interview that Trump's tariff policy may lead to the activation of the underground economy, and some people may engage in or promote fraud because they want to "make quick money": Trump probably has more tariffs on Taiwan this time, and some aspects of this people's livelihood expenditure may also increase as a result, which may lead to some of the activities of the underground economy that we commonly call it, and may need to make quick money, and will do some fraudulent behavior. Criminal police: Shuangbei illegal currency dealers daily OTC amount up to hundreds of millions The report also mentioned that fraud groups have also used virtual currencies as an emerging tool for money laundering in recent years, making it much more difficult for the police to track stolen funds. In addition, the senior criminal police interviewed in the report mentioned that after the FSC implemented the control of virtual asset operators in November last year, many street coin merchants appeared in the greater Taipei area, with a daily trading volume of more than NT$100 million: After November 30 last year, the FSC will be a virtual asset operator control, there are a lot of street coin merchants in the greater Taipei area, the street transaction volume is more than 100 million every day, the part of the purchase of coins with cash is not invoiced, they evade taxes in large quantities, and they have not gone through our lockdown system. From the information given by the criminal police, we can know that there are still many illegal virtual currency OTC transactions, which may also contain a lot of stolen money laundered by fraud groups. However, since the criminal police know that illegal personal currency dealers are so rampant, it also makes the community question why there has been no further large-scale crackdown at the law enforcement level. Unregistered illegal currency dealers can be sentenced to up to 2 years in prison According to previous reports in the area, Article 6 of the Money Laundering Prevention Law, which came into effect on November 30 last year, mentions that whether you are an exchange or an individual currency dealer, you need to complete the money laundering prevention registration with the competent authority. If they fail to register in accordance with the law and provide virtual asset services after November 30 last year, they will violate the criminal law and will be sentenced to fixed-term imprisonment of up to 2 years, criminal detention, or a fine of up to 5 million yuan. A legal person may impose a fine of not more than 10 times. According to the FSC's previous special transitional provisions, Taiwan's companies that have completed the AML compliance declaration must register with the FSC by March 31 this year at the latest, and must formally complete the registration by September 30, otherwise they will not be allowed to continue to operate virtual asset business. According to Item 2 of Article 6 of the Money Laundering Prevention Law promulgated by the FSC, a business or person providing virtual asset services refers to a business or person engaged in the following activities for others in China: The exchange of virtual assets with New Taiwan dollars, foreign currencies and currencies issued in mainland China, Hong Kong or Macao. Exchange of virtual assets. Transfer of virtual assets. Custody, management or provision of management tools for virtual assets. Participate in and provide financial services related to the issuance or sale of virtual assets. Related reports Trump promised: Amnesty for the "founder of the Silk Road" on the first day of the election, the genius who created a bitcoin business empire Weekly News of the Federal Reserve is hindered by the expectation of interest rate cuts leading to the collapse of bitcoin, Taiwan's first personal coin dealer was arrested for trading USDT, AI agents are still hot Hong Kong OTC coin dealers pay attention! Taiwan authorities launched "OTC trading licensing system" this year, with a maximum fine of 1 million Hong Kong dollars and 2 years in prison for violations [Senior criminal police revealed that the daily OTC trading volume of illegal currency merchants in the "Greater Taipei Area" exceeded NT$100 million, and the community questioned: Do you know or not catch it? This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".