Taiwan's Legislative Yuan passed the Virtual Asset Service Act on June 30, creating a licensing framework for crypto platforms and stablecoin issuers. Stablecoin issuers must keep full reserves, use domestic financial institutions for segregated trust assets, undergo audits, and avoid paying holder returns. Existing AML-registered VASPs will have 12 months to apply for licenses and 21 months to obtain approval after the law takes effect. Illegal VASP operations or stablecoin issuance can bring up to 7 years in prison and a fine of up to NT$100 million.