In response to the crisis facing ACE, a leading cryptocurrency exchange, the Financial Supervisory Commission (FSC) has implemented three key strategies. Firstly, the FSC has requested the company to provide a detailed explanation of the incident and publish a notice on their website to protect consumer rights. Secondly, the FSC will closely monitor the subsequent developments of the event and take appropriate legal actions based on concrete evidence. Lastly, if any illegal activities are found, the FSC will handle them in accordance with anti-money laundering regulations. In the case of specific evidence of wrongdoing, fines ranging from 500,000 to 10 million New Taiwan Dollars may be imposed.
ACE Exchange Embroiled in Money Laundering Scandal: Financial Supervisory Commission Takes Action, Imposes Maximum Fine of Ten Million