Taiwan’s Financial Supervisory Commission (FSC) plans to trail the custody services of open digital assets. Three domestic banks have taken the initiative to participate in the trial program, which is set to kick off in the first quarter of 2025. These banks are expected to provide storage solutions for the
Taiwan’s Financial Supervisory Commission (FSC) has unveiled a comprehensive set of anti-money laundering (AML) rules. These rules specifically target cryptocurrency firms and are set to be enforced by 2025. The new regulations aim to bring order to the growing digital asset market. They require virtual asset service providers (VASPs) to
Taiwan’s Financial Supervisory Commission (FSC) has announced a new initiative allowing professional investors to invest in foreign virtual asset exchange-traded funds (ETFs) via a re-entrustment method. This decision, detailed in a press release on Monday, aims to diversify investment options and enhance the re-entrustment business of the nation’s securities firms.
Taiwan’s second-largest telecom operator, Taiwan Mobile, has stepped into the cryptocurrency space. The company has applied to become the nation’s 26th Virtual Asset Service Provider (VASP) operator. Acquiring the license, it aims to establish its cryptocurrency exchange. According to the local media report, Taiwan Mobile gained approval after submitting its
In the past few months, crypto regulatory policies have witnessed a global upscale. Countries such as Zimbabwe have initiated regulatory measures earlier this year. Amid crucial regulatory events, Taiwan announced the launch of a ‘crypto industry association’ encompassing leading members from 24 crypto firms. The association, “Taiwan Virtual Asset Service
The Executive Yuan, Taiwan’s executive branch, introduces a new regulation — the “New Four Laws to Combat Fraud” — to strengthen the crackdown on fraud and regulate money laundering. Virtual assets-related financial crimes are included in the amendments, as reported by local media ABMedia. Notably, this regulation includes bills such
The Virtual Asset Management Bill was proposed to the Legislative Yuan, Taiwan’s unicameral parliament, on October 25. The purpose of the legislation is to “properly supervise” the sector and give “better protection” for consumers. The 30-page measure seems to provide reasonable requirements for the sector. Also, it recommends that VASPs
New regulations are being introduced by Taiwan’s Financial Supervisory Commission (FSC) to further safeguard crypto investors. The Commission has released industry standards for virtual asset service providers (VASP) operating in Taiwan on September 26. These recommendations outline the FSC’s essential principles for regulating the crypto market in Taiwan. Separating exchange
A month ago, Huang Tien-mu, chairman of Taiwan’s Financial Supervisory Commission, made it official that the commission would be responsible for crypto regulation in the region. There are two financial watchdogs in Taiwan. The Central Bank of the Republic of China and the FSC. Foreign exchange laws and monetary policy
In response to growing calls for government oversight of the cryptocurrency sector. Taiwan, officially the Republic of China (ROC) on Monday appointed its top financial regulator as the primary agency responsible for doing so. Chairman of the Financial Supervisory Commission Huang Tien-mu has said that the financial regulator would first
