To realize this, ACE Alternate has fashioned partnerships with KPMG, KGI Financial institution, CYBAVO and Lockton to supply safety in opposition to anti-money laundering (AML) and different monetary crimes on its platform, offering a secured crypto buying and selling platform for all customers.
Crypto belongings have gained great traction lately particularly amongst younger traders. Its exponential development in reputation has additionally raised considerations over the inherent dangers of unregulated transactions between cryptocurrency holders. To forestall cryptocurrencies from changing into the conduits for cash laundering, authorities have tightened rules for the trade, together with the new Taiwan’s cryptocurrency rules enacted on July 1 which require cryptocurrency exchanges to confirm and consider consumer identities.
“ACE Alternate has cooperated with KPMG to place in place related measures to struggle in opposition to cash laundering and terrorism financing practices by strictly scrutinizing consumer info and identities even earlier than the rollout of the brand new Taiwanese AML rules for cryptocurrencies. We now have additionally joint fingers with Taiwan’s felony and investigative authorities to assist set up well-rounded anti-money laundering mechanisms inside the crypto area,” stated David Pan, Founding father of ACE Alternate.
Safety is ACE Alternate’s high precedence
ACE Alternate supplies twin safety for the New Taiwan greenback and crypto belongings. In 2020, the corporate collaborated with KGI Financial institution to arrange “FIA Fund Belief Custody”. Powered by the world-renowned blockchain safety agency CYBAVO, ACE Alternate is provided with a state-of-the-art digital asset safety system and third-party digital pockets for customers.
In the meantime ACE Alternate’s partnership with the S&P AA-rated worldwide insurance coverage firm Lockton permits customers to get pleasure from all-around safety.
Since its inception, ACE Alternate has set precedence on safety and consumer safety, which laid a sturdy groundwork for regulatory compliance concerning AML and KYL in partnership with world-leading regulation companies, accounting companies and monetary establishments.
In early 2018, ACE Alternate obtained steerage from KPMG to arrange transaction procedures and guarantee regulatory compliance to deal with AML and countering the financing of terrorism (CTF) dangers.
In 2021, Rex Chu, Danger Marketing consultant and Government Vice President of Forensic Accounting Providers of KPMG Taiwan, assisted ACE Alternate in planning the product growth and working procedures in accordance with related Taiwan’s legal guidelines and rules, to fulfill the requirements of high-profile monetary banks. It has positioned ACE Alternate on the forefront of the crypto trade in constructing and strengthening its threat administration protocols and consumer safety mechanisms.
About ACE Alternate
Established in 2018 by David Pan, former COO of KPMG Innovation and Startups, ACE Alternate is likely one of the greatest cryptocurrency platforms with best-in-class digital safety measures in Taiwan. It presently ranks second in Taiwan by way of buying and selling volumes in Bitcoin, Ethereum and StableCoins. The model is dedicated to constructing probably the most skilled Fiat to Crypto change and offering a channel for all Taiwanese individuals to entry cryptocurrencies simply.
SOURCE ACE Alternate