Kuomintang lawmaker Wang Hongwei pointed out today at the Finance Committee that Binance has been named in violation of anti-money laundering regulations by local regulatory agencies in countries such as the United States, Canada, and India. Despite facing international penalties, the Ministry of Justice in Taiwan has chosen to cooperate with Binance, which has been accused of money laundering, to teach law enforcement agencies in Taiwan how to prevent money laundering. Wang Hongwei questioned whether such behavior is helping the exchange to whitewash its activities.
Deputy Prosecutor General Chien Mei-hui responded by stating that prosecutors and criminal police need to access financial flow and transaction data when conducting criminal investigations, hence the need to establish a data query channel with international cryptocurrency exchanges, with Binance being one of them.
In further questioning, lawmaker Wang Hongwei accused Binance of involvement in fraudulent activities, yet the exchange was able to meet with relevant departments of the Ministry of Justice multiple times and even hold seminars. Finally, Wang Hongwei requested the Ministry of Justice to immediately cease cooperation with Binance and seek out other international exchanges that comply with regulations.
