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Taiwan’s FSC Releases Draft of ‘Virtual Asset Service Act’
Taiwan’s FSC Releases Draft of ‘Virtual Asset Service Act’
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On March 25, Taiwan’s Financial Supervisory Commission (FSC) unveiled the draft of the “Virtual Asset Service Act,” which aims to enhance regulatory clarity for virtual asset businesses and strengthen investor protections. The draft outlines provisions for licensing of Virtual Asset Service Providers (VASPs), including requirements for organizational structure, capital, and personnel qualifications. It also includes standards for stablecoin issuance, authorizing banks to issue stablecoins pegged to the New Taiwan Dollar upon approval from the FSC and meeting specified criteria. These measures are intended to ensure market integrity and protect investors.
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