Taiwan's Virtual Asset Service Act: Registered Firms Get 21 Months to Obtain a Licence

The short version: Taiwan's Virtual Asset Service Act, passed on 30 June 2026, replaces AML registration with full FSC licensing. The 11 registered firms must apply for a licence within 12 months of the act taking effect and hold one within 21 months, extendable once by 3 months. The act was promulgated on 22 July 2026 and is not yet in force; the Executive Yuan will set the start date (FSC, act text).

What the Act Requires

Taiwan's Legislative Yuan passed the Virtual Asset Service Act on its third reading on 30 June 2026 (FSC). Until it takes effect, crypto firms are supervised under the anti-money-laundering regime: under Article 6 of the Money Laundering Control Act, a virtual asset service provider that has not completed AML registration with the competent authority may not provide virtual asset services, and a provider set up abroad must also register a company or branch under the Company Act (MLCA Art. 6).

• Seven types of provider. The act defines exchange, trading platform, transfer, custody, underwriting, lending and other providers, and regulates their finances, staff, internal controls, cyber security, listing reviews, segregation of client assets and liability to clients (FSC).
• Stablecoins. Issuing a stablecoin in Taiwan needs the consent of the central bank and an FSC licence; issuers must hold full reserve assets and place them in trust (FSC).
• Market abuse. Fraud or price manipulation is punishable by 3 to 10 years in prison and a fine of NT$10 million to NT$200 million (FSC).
• Transition for registered firms. VASPs that completed AML registration before the act takes effect must apply for an FSC licence within 12 months of commencement and obtain it within 21 months; this can be extended once, by 3 months (FSC).
• Commencement. The act was promulgated on 22 July 2026 and is not yet in force; the Executive Yuan sets the date it takes effect (Art. 56). Firms that do not apply, or are not licensed in time, may not continue their virtual asset business (Art. 55) (Virtual Asset Service Act).

Summary of the FSC release of 30 June 2026 and the act text (Chinese originals). Not legal advice.

Who Is Affected

The transition period applies to the firms registered when the act takes effect. As of the FSC list updated 29 Sep 2026, those are: BitoPro, Chainss / Atrix, HOYA BIT, KryptoGO Transfer, MaiCoin/MAX, TWEX, XREX, ZONE Wallet, Liminal, TSG EX, BitstreetX (FSC).