CoinW Denies Ties to Bixiang Laundering, Affirms Compliance
CoinW has issued an official statement denying any ties to the Bixiang money laundering case. After Taiwan prosecutors indicted 14 suspects in a 23 billion TWD laundering investigation, media reports suggested a CoinW supervisor was involved. CoinW clarified that no senior management has been implicated. The exchange reaffirmed its commitment to global compliance standards, anti-money laundering (AML), and anti-fraud measures. It has launched an internal review and is cooperating with authorities. CoinW emphasized its zero-tolerance policy for illegal activities and said it will publicly disclose any violations. Traders should await the judicial outcome as legal responsibility will be determined by courts.
Neutral
CoinW’s swift denial and emphasis on compliance are likely to stabilize market sentiment. While money laundering allegations can trigger brief confidence dips, clear statements, internal reviews, and cooperation with regulators—seen in past cases like Binance’s 2022 AML probe—tend to limit downside and restore trust. In the short term, this announcement should prevent significant price swings. Over the long term, traders will monitor judicial outcomes, but the exchange’s proactive compliance stance suggests a neutral impact on trading activity.