Taiwan Probes Record $75M Crypto Money Laundering Case

Prosecutors in Taiwan are investigating what may be the largest cryptocurrency money laundering case in the nation’s history. CoinW, a physical cryptocurrency exchange, was allegedly utilised by 14 individuals to assist a fraud ring in converting cash into cryptocurrency. They have been accused of victimising more than 1,500 people and laundering $75 million over the course of a year. The case highlights the potential for criminal exploitation of cryptocurrency and the increasing demand for more stringent regulation by regulators around the globe.