Taiwan Introduces Strict Crypto Penalties to Combat Fraudulent Activity

BTCC / BTCC Square / Global Cryptocurrency /

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2026-04-04 14:35:02

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Taiwan's Executive Yuan has approved a draft of the Virtual Asset Service Act (VASA), imposing severe penalties for unlicensed or fraudulent crypto activities. The legislation, introduced by the Financial Supervisory Commission (FSC), targets stablecoin issuers and Virtual Asset Service Providers (VASPs) with fines up to $6 million for violations.

The new framework, set to roll out in four phases, includes mandatory AML compliance for all crypto firms by September 2025. Premier Cho Jung-tai emphasized the measures aim to enhance transaction security while fostering domestic financial innovation.

This move aligns with Taiwan's broader crackdown on illicit crypto operations, following the FSC's 2024 AML overhaul that expanded oversight to digital asset businesses.

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