Taiwanese crypto change and VASP member Bitgin underneath investigation for cash laundering

Taiwanese cryptocurrency change Bitgin is underneath investigation by the nation’s police drive for cash laundering. Based on native information reviews early this week, Yuting Zhang, the agency’s chief working officer, was arrested by Taiwanese police for his alleged function within the “Eighty-Eight Guild Corridor” cash laundering incident.

Beforehand, Zhemin Guo and Chengwen Tu, two native businessmen, had been accused by police of working a multibillion-dollar cash laundering scheme through the use of their international change places of work and crypto change accounts to launder proceeds of crime obtained through wire fraud from abroad. Tu can also be accused of defrauding the nation’s tax authorities by claiming 300 million New Taiwan {dollars} ($9.28 million) in fraudulent export tax refunds by way of the abroad sale of online game credit.

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