Jul 1
Taiwan passes crypto law for exchanges and stablecoins
Taiwan passed its Virtual Asset Service Act, requiring crypto firms and stablecoin issuers to get FSC approval under strict new rules.
➤ Taiwan has enacted the Virtual Asset Service Act, establishing a licensing framework for crypto exchanges and stablecoin issuers. ➤ The new law mandates strict operational, cybersecurity, and customer protection standards, with penalties for non-compliance. ➤ Stablecoin issuers require dual approval from the central bank and FSC, alongside full reserve backing and regular audits.