STRICT PENALTIES:
The virtual asset service act, which would be rolled out in four phases, aims to bring crypto asset providers under closer supervision

• By Chung Li-hua / Staff reporter

The Executive Yuan yesterday approved a draft of the virtual asset service act (虛擬資產服務法), introducing strict penalties for unlicensed or fraudulent activities in the crypto sector.

Those issuing stablecoins without a license could face up to seven…