The Taiwan VASP Association Preparatory Committee responded to the incident involving a member: temporarily suspending participation in operations, emphasizing the presumption of innocence until proven guilty.
Table of Contents
Table of Contents
Emergency Meeting Reaches Consensus
On November 12, in response to recent investigation cases involving members of the Virtual Asset Service Provider (VASP) Association of Taiwan, the preparatory group of the association held an emergency meeting. During the meeting, the group reached a series of consensus and issued a public statement to demonstrate their compliance with the "Guidelines" and commitment to self-discipline.
Chasing the "88 Palace" Taiwanese Money Laundering Network: "CoinJing" Exchange Operator Detained Through Anti-Money Laundering Statement
Involved Members Voluntarily Suspend Participation in Public Affairs
In this meeting, the members involved voluntarily proposed to temporarily refrain from participating in public affairs operations, including the preparatory group of the association, during the investigation phase and until a definitive judgment is reached. The preparatory group stated that they will fully respect the legal procedures of the judicial authorities and the legal rights of the parties involved, and await the final determination by the district prosecutor's office or the court. This demonstrates the respect of the VASP Association of Taiwan for the principles of confidential investigation and presumption of innocence.
Enhancing Self-Regulation and Public Trust
The preparatory group also reached a consensus to discuss regulations on major news disclosures and responses to unforeseen events at the next meeting, in order to establish relevant mechanisms and enhance public trust in the industry.
Taiwan VASP Association's Chief Advisor Tsai Yu-ling stated: "The Taiwan VASP Association has not yet been formally established. The preparatory group is an organization initiated voluntarily by industry players to coordinate the preparatory work for the establishment of the association. The members of this preparatory group were involved in investigation cases, and the group immediately held a meeting and made a public response. The relevant members involved also voluntarily proposed to suspend their participation in the preparatory group's work, demonstrating the increasing maturity of the industry's self-discipline spirit, which should be positively affirmed. We can also look forward to the formation of comprehensive self-regulatory norms in the future. At the same time, it is necessary to emphasize that until a judgment is confirmed, the spirit of presumption of innocence should be upheld, and there should not be too much speculation to facilitate the clarification of the truth."
This event not only highlights the industry's ability to self-adjust in the face of challenges but also demonstrates the determination of the sector to establish a sound self-regulatory mechanism.