Taiwan Ministry of Justice's Agency Against Corruption: Public officials must truthfully declare their virtual currency assets, with fines of up to NT$4 million.
On February 15th, the Agency Against Corruption under the Ministry of Justice in Taiwan announced that virtual currencies have been included in anti-money laundering regulations. As virtual currencies hold property value, the Ministry of Justice is considering amending the Public Official Property Declaration Act to include them. According to current laws, individuals who deliberately make false declarations may face fines ranging from NT$200,000 to NT$4,000,000; those who fail to declare within the specified deadline or intentionally make false declarations may also face fines ranging from NT$60,000 to NT$1,200,000.
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Civil Servants Should Honestly Declare
According to CNA, Minister of Justice Tsai Ching-hsiang stated that although tracing virtual currencies is challenging, the Ministry of Justice will strive to overcome it, and public servants should honestly declare. Tsai Ching-hsiang urged public servants to truthfully report their virtual currency holdings to avoid penalties if caught.
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