BitShine, a local cryptocurrency exchange in Taiwan, has recently announced a change in its management team, marking the beginning of a new phase of development for the company.
Established in November 2021, BitShine Exchange has successfully complied with the anti-money laundering regulations set by the Taiwan Financial Supervisory Commission. The exchange aims to provide a user-friendly and compliant platform for beginners in the cryptocurrency field.
In a Facebook post yesterday, co-founder of BitShine, Chen Pei-yun, stated that the company had completed the change in its management team on January 3, 2024. The reins have been handed over to a group of passionate, experienced, and visionary professionals. This new leadership team will guide the company in facing challenges, seizing opportunities, and realizing its long-term development vision.
In an interview with “Web3+,” Chen Pei-yun mentioned that BitShine Technology hopes to expand on a larger scale. Therefore, they need a team with senior experience in various aspects to support them. She stated, “The new team has profound experience and strength. We believe that handing over the company to them will enable its excellent growth.”
However, due to a signed confidentiality agreement, specific details of the acquisition cannot be disclosed.
According to the list of virtual currency platform operators who have completed the anti-money laundering declaration published on the official website of the Securities and Futures Bureau of the Financial Supervisory Commission (updated on March 1, 2024), a total of 25 operators have completed the declaration.
Apart from well-known local exchanges in the Taiwanese cryptocurrency community such as MaiCoin, XREX, BitoEX, HOYA BIT, Rybit, Bityard, and Zone Wallet, BitKing, which was involved in the “88 Mansion” money laundering case in recent years, as well as ACE, whose founder was implicated in a virtual currency fraud, are also still included on the list.
BitKing BITGIN announced on the first working day of 2024 that it will temporarily suspend services to individual users starting from January 3 and transform into a cryptocurrency exchange specializing in serving corporate clients.
Despite the difficulties ACE Exchange faced when its founder was involved in an air coin fraud incident, the management team emphasized that the exchange’s operations are still normal, and users can continue to deposit and withdraw funds. At this stage, they will do their best to find a solution to maintain normal business operations.
In addition, at the end of 2023, three companies under the BitoEX Group, namely “BitoEX Technology Co., Ltd.”, “Hongke Technology Co., Ltd.”, and “BitoEX Technology Co., Ltd. Taiwan Branch,” completed the anti-money laundering process and obtained approval from the Financial Supervisory Commission. They have now integrated their products and operations, with all virtual currency-related businesses being handled by “BitoEX Technology Co., Ltd.”
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Two fewer anti-money laundering crypto operators! Why are they all from the BitoEX Group? The operators explain the reasons themselves.
BitoEX explained that the reason for having three companies on the list is that initially, any business related to virtual currency, such as wallets or exchanges, that offers corresponding products and services must submit an anti-money laundering declaration. Hence, this situation occurred. The subsequent focus of “Hongke Technology Co., Ltd.” and “BitoEX Technology Co., Ltd. Taiwan Branch” will be on providing technical support for the services and products of the BitoEX Group.
Proofread by: Gao Jingyuan
