Taiwan is facing a landmark case of crypto money laundering with the CoinW exchange at its center, highlighting the vulnerability of crypto regulations in the face of financial crimes. This unprecedented case involves an alleged mastermind, Shi Qiren, who led a network responsible for over NT$2.3 billion in illicit funds transfer through intricate schemes involving multiple franchises and overseas accounts. 1,500 victims across Taiwan have been negatively impacted by this fraudulent activity. 14 individuals have been indicted, facing charges ranging from fraud to organized crime. The ongoing trial will undoubtedly influence the future of crypto regulation in Taiwan.