|
Getting your Trinity Audio player ready...
|
- Taiwan plans to require customer information for all domestic crypto platform transfers starting in October.
- Transfers above NT$30,000 will require expanded sender identity verification.
- Cross-border Travel Rule requirements are expected to be introduced by the end of 2027.
Taiwan is preparing to tighten oversight of cryptocurrency transactions with a new proposal that would require virtual asset service providers (VASPs) to exchange customer information for all transfers between domestic crypto platforms beginning in October.
The planned changes, announced by Taiwan’s Financial Supervisory Commission (FSC), are designed to strengthen anti-money laundering (AML) compliance by fully implementing the Financial Action Task Force’s (FATF) Travel Rule. If approved following public consultation, the new framework would significantly expand reporting obligations for crypto platforms operating in the country.
Taiwan Expands Crypto Compliance Requirements
Under the proposed rules, every transfer between licensed domestic crypto platforms would require the exchange of customer information, regardless of the transaction amount.
For transfers above 30,000 New Taiwan dollars (roughly $930), additional identity details would be required. Individual users would need to provide information such as their date of birth and residential address, while businesses would be required to submit their official registration number and registered business address.
Receiving crypto platforms would also have a new responsibility. They would be required to verify that the beneficiary information received from the sending platform matches the records they already hold, adding another layer of compliance and identity verification.
Cross-Border Crypto Transfers Next on the Agenda
The FSC also outlined plans to extend these requirements to transactions between Taiwanese crypto platforms and overseas VASPs by the end of 2027.
Taiwan first incorporated the FATF Travel Rule into its anti-money laundering regulations in 2021. However, implementation was postponed because of inconsistent regulatory standards across jurisdictions, incompatible data-sharing systems, and technical challenges associated with cross-border information exchange.
The regulator has now opened a 30-day public consultation on the proposed amendments before moving toward implementation.
Global Travel Rule Adoption Continues to Grow
Taiwan’s latest proposal reflects a broader global effort to strengthen oversight of digital asset transactions.
According to the FATF, adoption of the Travel Rule continues to increase worldwide. In its July update, the international watchdog reported that 83% of surveyed jurisdictions have now enacted Travel Rule legislation, compared with 73% in 2025. Despite this progress, the FATF noted that many countries still face challenges in enforcing the rules consistently and ensuring effective compliance.
As more jurisdictions introduce stricter reporting requirements, crypto exchanges are increasingly investing in compliance infrastructure to meet evolving regulatory expectations while supporting legitimate digital asset activity.
Also Read: Taiwan Just Passed Asia’s Toughest Crypto Rules — Here’s What Happens Next
Taiwan’s proposed Travel Rule amendments mark another step toward bringing its cryptocurrency sector in line with international AML standards. If adopted, domestic crypto platforms will face broader customer verification obligations beginning in October, with international transfers expected to follow in the coming years. The proposal highlights the continued global push to improve transparency in digital asset transactions while addressing gaps in regulatory enforcement.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
