Taiwan’s sweeping crypto law raises the bar with licensing, reserve mandates, and tough penalties
Taiwan's legislature has passed the Virtual Asset Service Act, which mandates strict licensing for crypto exchanges and requires stablecoin issuers to maintain 100% asset reserves. The law introduces severe penalties, including prison time, for unauthorized operations and market manipulation.
Why it matters
This legislation represents a significant tightening of crypto regulation in Asia, aiming to protect consumers and ensure financial stability in the digital asset market.
On Tuesday, lawmakers in the Legislative Yuan approved the Virtual Asset Service Act during its third reading, forwarding it to President Lai Ching-te for formal signing, which is anticipated within the next ten days.
The article objectively outlines the new regulatory requirements and the legislative process in Taiwan.
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