Taiwan is preparing to tighten oversight of cryptocurrency transfers by enforcing the Financial Action Task Force's (FATF) Travel Rule for domestic crypto transactions starting in October 2026. According to the Financial Supervisory Commission (FSC), draft amendments released by Taiwan's Financial Supervisory Commission (FSC) will require virtual asset service providers (VASPs) to exchange customer information for every transfer between domestic crypto platforms, regardless of transaction value. The regulator said transfers above 30,000 New Taiwan dollars (about $930) would face additional identification requirements before they could be processed.
Under the proposed framework, platforms handling transfers above the NT$30,000 threshold would need to transmit more detailed customer information. For individual senders, the FSC said platforms must provide the customer's date of birth and residential address alongside existing transfer information. Corporate senders would instead need to disclose their official identification number and registered business address. Receiving platforms would no longer be limited to accepting transmitted information, with the proposal requiring them to compare beneficiary information received from the originating VASP against their own customer records before completing the transaction.
The proposal builds on Taiwan's new Virtual Asset Service Act, which introduced a full licensing framework for crypto businesses in July 2026. The legislation replaced the country's previous anti-money laundering registration model with a comprehensive system covering exchanges, trading platforms, custodians, transfer providers and other crypto businesses. The FSC said the amendments will enter a 30-day public consultation before any final rules are adopted, with the regulator planning to extend the same framework to transactions involving domestic and overseas VASPs by the end of 2027.
The implementation follows broader global trends in cryptocurrency regulation. According to the Financial Action Task Force (FATF), 83% of surveyed jurisdictions have now enacted Travel Rule legislation, up from 73% in 2025. However, the FATF noted that implementation remains uneven because many jurisdictions still face enforcement and operational challenges after adopting the legal framework. Taiwan had previously incorporated Travel Rule provisions into its anti-money laundering regulations in 2021, but authorities postponed enforcement because many jurisdictions had yet to adopt compatible frameworks, while technical standards for securely transmitting customer information between exchanges remained fragmented. The phased rollout is designed to address these challenges, with domestic transfers coming first in October 2026, while transactions involving overseas VASPs are expected to be covered by the end of 2027 as international interoperability improves.
