TAIPEI, Dec. 2, 2024 /PRNewswire/ -- Taiwan's Financial Supervisory Commission (FSC) has recently intensified regulatory measures for Virtual Asset Service Providers (VASPs), presenting significant challenges for industry. The FSC requires all VASPs, whether newly established or already operating, to submit applications by March 31, 2025, and finalize registration by September 30, 2025. Non-compliance may result in criminal penalties. Additionally, the FSC plans to implement a four-phase regulatory framework, culminating in the establishment of dedicated legislation by June 2025.

In this evolving landscape, KryptoGO stands out as a trusted partner, offering advanced compliance and wallet solutions to help businesses navigate these regulatory complexities. Trusted by financial institutions, government, telecommunication companies, exchanges and other VASPs, KryptoGO provides a comprehensive AI-powered platform that accelerates compliance processes and operational efficiency, enabling businesses to thrive in this evolving landscape.

Supporting Taiwan's Growing Web3 Ecosystem

In Taiwan, KryptoGO has collaborated with financial institutions and VASPs to significantly streamline their compliance processes, accelerating operational workflows while reducing manpower, costs, and review time. This allows businesses to focus on their products and services, while ensuring they remain compliant with the stringent regulations in the evolving web3 market.

Globally, KryptoGO partners with compliance leaders like Elliptic, Dow Jones, Sumsub, Jumio, Crystal Intelligence, Chainalysis, and Coinfirm, bringing international best practices to help enterprises navigate regulatory complexities. These strategic partnerships enhance KryptoGO's ability to empower businesses and ensure their success in the highly regulated virtual asset market.

Your One-stop Solution into Web3

KryptoGO's Studio offers  AI-enabled modules that address the unique challenges faced by VASPs in Taiwan's regulated market:

Compliance: Automates AML/KYC procedures, reducing review times from 30 minutes to just 3 minutes—a 90% efficiency improvement. Supporting identity verification across 200+ countries, this module enables businesses to generate real-time compliance reports and meet Taiwan's high regulatory standards.

AssetPro: Provides transparent asset management with multi-chain integrations and tiered access controls, ensuring secure workflows and operational efficiency.

Wallet Builder: Offers a no-code solution for deploying multi-chain wallets in as little as one month. By reducing development costs by 67% and launch timelines by 90%, Wallet Builder integrates asset management, trading, and community features, enhancing user engagement and driving business growth.

Enabling Business Growth and Success in a Regulated Market

As Taiwan's virtual asset market continues to evolve, KryptoGO remains at the forefront, providing businesses with the tools they need to stay ahead of regulatory changes while optimizing their operations. By simplifying compliance, enhancing asset management, and offering flexible, user-centric wallet solutions, KryptoGO empowers businesses to navigate the complexities of the Web3 ecosystem with confidence. As the industry grows, KryptoGO is proud to be a trusted partner, helping enterprises innovate, scale, and succeed in a rapidly changing regulatory landscape.

About KryptoGO

KryptoGO is a leading Web3 infrastructure platform backed by the National Development Fund and certified with ISO 27001/27701, emphasizing compliance and security. We provide compliant DeFi wallet solutions for global financial institutions and businesses looking to offer cryptocurrency services, with a strong focus on safety, user experience, and regulatory adherence. We welcome inquiries from global businesses and financial institutions seeking to leverage cutting-edge stablecoin infrastructure and compliance solutions. For more information on how KryptoGO can support your Web3 business needs, please visit our website or contact us directly.

Media Contact: pr@kryptogo.com

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Source: KryptoGO