Taiwan has passed its Virtual Asset Service Act, giving crypto exchanges and stablecoin issuers a clear licensing path after years of legal uncertainty.
Summary
- Taiwan’s new crypto law requires exchanges and other virtual asset firms to obtain FSC licenses.
- Stablecoin issuers must secure central bank and FSC approval while keeping full reserve backing.
- Existing registered crypto firms get a transition period before the new licensing system fully applies.
Taiwan’s Legislative Yuan passed the Virtual Asset Service Act in its third reading on June 30, sending the bill to President Lai Ching-te for the next step. The Financial Supervisory Commission said the law…
