🇹🇼 Taiwan Passes Landmark Crypto Law - Virtual Asset Service Act
Legislative Yuan approved the Virtual Asset Service Act (June 30), Taiwan's first standalone crypto law. Now awaiting presidential signature.
🔹 FSC = sole regulator, full licensing (bye AML-only era)
🔹 Stablecoins: 100% reserves + FSC+Central Bank approval
🔹 Unlicensed ops: up to 7yrs jail
🔹 Fraud/manipulation: 3-10yrs, up to NT$200M fine
🔹 21-month transition for existing firms
Legislative Yuan approved the Virtual Asset Service Act (June 30), Taiwan's first standalone crypto law. Now awaiting presidential signature.
🔹 FSC = sole regulator, full licensing (bye AML-only era)
🔹 Stablecoins: 100% reserves + FSC+Central Bank approval
🔹 Unlicensed ops: up to 7yrs jail
🔹 Fraud/manipulation: 3-10yrs, up to NT$200M fine
🔹 21-month transition for existing firms