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Taiwan Unveils Draft Law to Bring Crypto Sector Under FSC Licensing Regime

Taiwan's Financial Supervisory Commission (FSC) has launched a public consultation on a draft Virtual Asset Service Act, setting out a broad regulatory framework for the crypto industry. The proposal would regulate core virtual-asset activities, including exchange services, transfers, custody, lending and distribution. It excludes NFTs, securities and fiat currencies from the definition of virtual assets. Under the draft, virtual asset service providers (VASPs) would be required to obtain an FSC licence before starting operations. The draft was released on 25 March 2025, with public comments open through 24 May 2025.
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