ACE, the premier exchange, finds a buyer? Announcement of exchange account renaming, may reappear after registration system overhaul

Since the founder of ACE Exchange, a prominent cryptocurrency exchange, became involved in a fraud case in early 2024 and was fined 1.52 million New Taiwan Dollars by the Financial Supervisory Commission for money laundering deficiencies, the operation of the exchange has continued to be closely monitored. Speculations within the community suggest that the exchange may be shut down or change ownership. Today, on 10/24, ACE Exchange's announcement may reveal new developments.

All four major exchanges have deficiencies in anti-money laundering measures! The Financial Supervisory Commission will target six more Virtual Asset Service Providers (VASPs), and mandatory registration requirements will force some virtual asset businesses to exit the market.

ACE Announces Bank Account Name Change, Spokesperson Confirms Rebranding

According to the announcement, ACE, the flagship exchange, stated that the company's "renaming" requires simultaneous adjustments to the re-binding of the KGI Bank trust account, leading to adjustments in certain functions. From the perspective of the bank trust account procedures, this action signifies that the ACE flagship exchange operating team will rebrand and start afresh; and it is highly likely that they have found a new buyer.

When asked for comments from ACE, the spokesperson confirmed the rebranding is in progress, preparing for a new bank trust contract, and disclosed that all investors have been replaced.

Deposit Function Suspended, Resumed on 11/2

Since 10/14, ACE has suspended deposit services, claiming it will continue until 11/2, causing many speculations in the community as to whether the suspension was due to an incident. The spokesperson stated that this policy is also due to the company's registration renaming process and the timeline of the trust account contract.

ACE Rebrands as "Run Tong Digital Innovation"

According to company registration information, ACE, originally named "Ace Digital Innovation," has been renamed "Run Tong Digital Innovation Co., Ltd.," with the company's board of directors all appointed by the legal representative of "AP New Energy Co., Ltd." As reported in the past, AP New Energy and KGI Bank have collaborated on "community charging pile operation trust services," with both ACE and AP New Energy being clients of KGI Bank.

After Taiwan's Registration, VASP Operators Undergo Major Reshuffling

Taiwan's Virtual Asset Service Providers (VASP) are expected to be regulated under a "registration system" next year, requiring existing exchanges and OTC currency dealers to undergo re-examination to be included in the list of registered operators. If ACE, the flagship exchange, successfully finds a buyer and rebrands to become a registered operator, it may be able to maintain the rights of ACE's current users.

Financial Supervisory Commission announces new regulations on "Anti-Money Laundering for Virtual Asset Services": abolition of AML declarations, operators must complete registration within three months.