Binance Recognized by Taiwan's Ministry of Interior for Collaborative Law-Enforcement Efforts

Binance has been recognized by Taiwan's Ministry of the Interior for its extensive cooperation on law enforcement requests, strengthening the fight against fraudulent activities involving virtual assets. Among more than one thousand overseas virtual currency exchanges, Binance is reportedly the only international exchange collaborating with domestic law enforcement agencies in Taiwan, granting access to implicated accounts and the transfer of involved virtual assets. As per recent stats, Binance has a trading volume of $40.7 billion in the past day, with over 177 million global users. The collaboration between Binance and the National Police Agency of Taiwan has led to enhanced anti-fraud measures, reflecting Binance's commitment to global ethical standards and regulatory compliance. The Ministry of the Interior noted the establishment of an investment and order review mechanism with 9 Virtual Asset Service Providers (VASPs) operators through the anti-fraud hotline system of the Police Department. This mechanism accelerates the investigation of cases involving virtual asset fraud. While current local regulations focus on promoting self-discipline among businesses and complying with anti-money laundering laws, additional regulatory measures are expected to be introduced in the second half of the year. Binance's cooperative efforts have made a significant impact, setting the standard for other exchanges. It will continue to support Taiwan's region and efforts in combating crime globally.