Taiwan's community reported a financial disaster, with multiple exchanges not responding to withdrawal requests, and SNS shouting "Refuse to use Taiwanese exchanges."

On the 11th, the Taiwan community reported that the compliant exchange had a full card withdrawal status, and the community set off a suggestion not to use the Taiwan exchange... (Summary: New system of the FSC: The transfer intends to forcibly disclose the "payee's name" to reduce the risk of transaction errors and fraud) (Background supplement: Taiwan's FSC approves "bitcoin custody", KGI, CITIC, and federal 3 banks preemptively try it) Taiwan's cryptocurrency community today (11) suddenly heated discussions about "withdrawal stuck", and a large number of posts from the community and LINE groups alleged that the withdrawal function of many local exchanges was suspended, causing user tension. So far, no formal clarification has been issued by various platforms, but the upgrade of bank risk control and the increase in legal compliance costs are compressing the space for people to use cryptocurrencies, which has pushed market sentiment to a state of high pressure, and even promoted the refusal to use Taiwan's KYC exchanges, presenting a vicious circle. Bank risk control compresses Taiwan dollar channels According to the return of readers in the moving area in the past three months, the bank side lists crypto-related remittances and withdrawals as high-risk behaviors, and there are also many readers, recently deposit remittances have been frequently returned, and even accounts have been set as warning accounts, the Financial Regulatory Commission has long banned credit card purchases, underground OTC is afraid of violating the law, and Taiwan dollar deposit and withdrawal channels are shrinking day by day; Want to withdraw money often encounter "review delay" A user said that he has cooperated with MAX and other exchanges for many years in the past, but said that this time is the most card in history, some users deposit and withdraw funds to foreign currency wire transfer to Kraken, Coinbase, and then return to Taiwan with stablecoins, or US dollars overseas income tax exemption, but the exchange rate difference, handling fees and overseas supervision, wire transfer back and forth time is still a threshold, which is no longer the advantage of cryptocurrencies. Rumor gray area and truth? Although several news have revealed to the moving area that there has been a delay in withdrawals on Taiwan's compliant exchanges (11) recently, there is still no evidence that all mainstream exchanges have fully frozen withdrawals. Whether it is that after the recent tightening of VASP exchanges to eight, the FSC has strengthened its control over the flow of gold to delete the list that has been further selected, there is no information yet. However, opaque information and regulatory vacuum allow rumors to grow in gaps, as long as the official information is insufficient, users are naturally worried about the worst situation, and then move towards illegal or gray area withdrawal channels, further forming a negative cycle. Experts call on users and regulators Experts remind that when worried about the failure of the week, investors and users must pay attention to whether there are unscrupulous people, take advantage of the rumors of gold withdrawals in compliant exchanges, and take the opportunity to spread illegal deposit and withdrawal channels, such as unregistered OTC dealers, etc., which may involve some legal issues, so as not to involve relevant provisions such as the Money Laundering Prevention Law. In principle, exchanges in Taiwan that need to give priority to using the FSC's money laundering prevention statement and regularly disclose proof of reserves, such as MaiCoin MAX or BitoPro, and continue to pay attention to the announcement. In order to avoid allowing the public to escape into the illegal gray field, the FSC and relevant officials should investigate the public situation in a timely manner to understand the actual situation of virtual currency use in Taiwan, so as not to become a situation where "the whole Taiwan is illegal and OTC is prevalent" which is actually difficult to ban and does not conform to the actual public sentiment. If the FSC can understand the actual situation as soon as possible, and clarify the guidelines for bank cooperation, and the exchange simultaneously strengthens the disclosure of information security and reserves, users and the market trust will have a chance to stabilize, otherwise when the public begins to promote the use of gray platforms, then supervision may be "lonely". Related reports Cathay United Bank can deposit bitcoins! The first wave of trial operation was approved, locking in high-net-worth customers Stablecoins are just "digital EasyCard"? A cognitive battle to kill Taiwan's crypto future in single digits! Taiwan's virtual currency service providers "now have 8 left", crypto oligarchy competition began (Taiwan community reported a gold disaster, many exchanges withdrew money without follow-up, SNS shouted "refuse to use Taiwan exchanges") This article was first published in BlockTempo "Dynamic Trend - The Most Influential Blockchain News Media".