Taiwan Clears Two More Crypto Firms, Bringing Registered VASPs to 10

Virtual asset service providers in Taiwan must complete anti-money laundering registration with the Financial Supervisory Commission before legally starting operations. The framework requires firms to conduct customer due diligence, monitor transactions and report suspicious activity. It also serves as the regulatory bridge to a licensing regime planned under the Virtual Asset Service Act, as authorities tighten oversight of crypto businesses and seek to reduce money-laundering and fraud risks.

The FSC approved Taigang Digital Asset and Uda Taiwan for anti-money laundering registration, adding two firms and bringing the number of registered VASPs to 10. Both companies may now formally begin operations. The Virtual Asset Service Act is expected to take effect in the first quarter of 2027, after which currently registered providers will have a 12-month transition period to apply for full operating licenses.