Taiwan is preparing to make customer information sharing compulsory for transfers between domestic cryptocurrency platforms, with the new Travel Rule requirements due to take effect in October.
Draft amendments published by Taiwan’s Financial Supervisory Commission (FSC) on Tuesday would require virtual asset service providers (VASPs) to exchange customer details for every transfer between Taiwanese platforms, regardless of its value.
Transfers worth more than 30,000 New Taiwan dollars (about $930) would also be subject to additional identification checks before they could be completed.
Under the proposals, the platform receiving a transfer would have to confirm that the beneficiary information supplied by the sending platform matches the details in its own records. The amendments will now go through a 30-day public consultation before the FSC decides whether to adopt them in their final form.
For transfers above the NT$30,000 threshold, platforms would be required to send more extensive information about the customer.
Where the sender is an individual, firms would have to provide their date of birth and residential address in addition to the information already required for the transfer. For corporate customers, the platform would instead need to share the company’s official identification number and registered business address.
The receiving provider would also have a new responsibility. Rather than simply accepting information passed on by the originating VASP, it would need to compare the beneficiary’s details with the records held on its own system before approving the transaction.
The first stage of the plan will apply only to transfers between domestic platforms. However, the FSC said it intends to extend the same requirements to transactions involving Taiwanese and overseas VASPs by the end of 2027.
The proposed measures are part of a wider overhaul of Taiwan’s cryptocurrency rules.
In July 2026, Taiwan passed the Virtual Asset Service Act, replacing its previous anti-money laundering registration system with a licensing regime. The new framework covers exchanges, trading platforms, custodians, transfer providers and other cryptocurrency businesses.
It also sets standards for cybersecurity, the separation of customer assets, internal controls, financial reporting and market conduct.
Under the legislation, crypto firms must receive approval from the FSC before they can operate. Businesses that were already registered under Taiwan’s former anti-money laundering regime have been given a transition period in which to obtain full licences.
The law also creates a specific regulatory framework for stablecoin issuers. Companies intending to issue tokens in Taiwan must secure approval from both the FSC and Taiwan’s central bank. They must also maintain fully backed reserves in trust, with those reserves subject to audits and public disclosure requirements.
Unlicensed cryptocurrency activity, illegal stablecoin issuance, fraud and market manipulation are now subject to criminal penalties under the legislation. That represents a significant expansion from the previous system, which focused largely on anti-money laundering compliance.
Taiwan had already introduced Travel Rule provisions into its anti-money laundering regulations in 2021, but the rules were never put into operation.
The FSC said implementation was held back by differences between national regulatory systems, incompatible standards for sharing information and technical difficulties in linking cross-border platforms. The regulator now plans to establish a domestic system first, before moving towards international transfers during the following year.
The Financial Action Task Force (FATF) said in July that Travel Rule adoption had continued to spread globally. Its figures showed that 83% of jurisdictions surveyed had enacted Travel Rule legislation, compared with 73% in 2025.
Despite that progress, the FATF said implementation remained inconsistent. Many jurisdictions continued to face enforcement and operational problems even after creating the necessary legal framework.
Taiwan’s cryptocurrency policy has also expanded into areas beyond licensing and anti-money laundering controls over the past year.
In December 2025, the Ministry of Justice disclosed that it was holding 210.45 BTC, along with other cryptocurrencies seized during criminal investigations. The assets included stablecoins, Ether, BNB, Tron and Livepeer.
The ministry said the cryptocurrencies remained in government custody while officials considered options including public auctions. No final decision had been made about how the assets would be disposed of.
The disclosure led to debate in Taiwan’s legislature. Lawmaker Ko Ju-Chun called on policymakers to examine whether Bitcoin could form part of the country’s strategic reserve assets.
Around the same time, Taiwan’s central bank argued that it should have a formal role in supervising stablecoin issuers. It said the management of reserves and risks to the payment system required direct oversight alongside the FSC.
Many of those proposals were later included in the Virtual Asset Service Act passed in July, which gives the central bank responsibility for stablecoin approvals jointly with the financial regulator.
