TechFlow news — On November 29, Binance announced that due to the upcoming enforcement of Taiwan's new Anti-Money Laundering Act regulations effective November 30, 2024, all advertisements from New Taiwan Dollar (TWD) market merchants on Binance P2P—including cash traders—who have not completed P2Pro verification (i.e., obtained the anti-money laundering compliance statement approval from Taiwan's Financial Supervisory Commission), will be removed from the Binance P2P platform on November 29, 2024. Only P2Pro-verified merchants may continue operating in the TWD market; unverified merchants will be prohibited from posting ads or providing TWD-to-virtual asset trading services. Binance encourages affected merchants to apply for anti-money laundering registration with Taiwan's Financial Supervisory Commission starting November 30, 2024, and subsequently apply for P2Pro merchant certification upon approval.
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