Taiwan’s Financial Supervisory Commission (FSC) has proposed mandatory customer information sharing for all transfers between domestic virtual asset service providers (VASPs), with the Travel Rule requirements set to take effect in October. The amendments, released on Tuesday, will require VASPs to exchange customer data for every transfer, no matter the amount.
Transactions above NT$30,000 (about $930) will face additional identification requirements. Individual senders must provide date of birth and residential address; corporate senders must disclose official identification number and registered business address. Receiving platforms will be obligated to verify beneficiary details against their own records before completing the transaction.
The proposal will now undergo a 30-day public consultation before final rules are adopted. The FSC plans to extend the same framework to cross-border transfers between domestic and overseas VASPs by the end of 2027.
The move builds on Taiwan’s Virtual Asset Service Act, passed in July 2026, which replaced the previous anti-money laundering registration model with a full licensing system for exchanges, trading platforms, custodians, transfer providers and other crypto businesses. The Act also introduced operational standards on cybersecurity, asset segregation, internal controls, financial reporting and market conduct, as well as criminal penalties for unlicensed activity and fraud.
Taiwan had originally included Travel Rule provisions in its 2021 AML regulations but never implemented them due to differences in cross-border standards and technical challenges. The phased approach—domestic first, then international—aims to address those hurdles.
According to the Financial Action Task Force (FATF), 83% of jurisdictions have now enacted Travel Rule legislation, up from 73% in 2025, though enforcement remains uneven. Taiwan’s broader crypto oversight also includes stablecoin reserve requirements needing central bank approval and a recent disclosure by the Ministry of Justice that it holds seized Bitcoin and other cryptocurrencies.
