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Taiwan Passes Virtual Asset Service Act with Up to 10-Year Prison Penalties

GateNews
Regulation & Policy
According to The Block, Taiwan's Legislative Yuan recently passed the Virtual Asset Service Act, with the legislation sent to President Lai Ching-te for signing and expected to be implemented within 10 days. Virtual asset service providers must apply for a license from the Financial Supervisory Commission (FSC), with a 12-month application window and 21-month approval period. Stablecoin issuers are required to obtain dual approval from both the central bank and FSC while maintaining adequate reserves. Unauthorized operation carries penalties of up to seven years imprisonment and a maximum fine of NTD 100 million (approximately $3.14 million); market manipulation in crypto markets faces up to 10 years imprisonment and a maximum fine of NTD 200 million (approximately $6.28 million).
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Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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