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Taiwan to Propose Virtual Asset Law by June 2025, Allowing Banks to Issue Stablecoins
Taiwan to Propose Virtual Asset Law by June 2025, Allowing Banks to Issue Stablecoins
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The Taiwan Financial Supervisory Commission (FSC) has announced plans to propose a draft law on virtual asset service providers (VASPs) in June 2025. This legislation will mark a significant milestone as it will allow Taiwanese banks to issue stablecoins for the first time. Although stablecoins currently circulating in the market are not officially approved by Taiwan’s authorities, they are widely used due to their backing by U.S. dollar assets. The new VASP registration regulations, which took effect this year, mandate that all VASP providers complete the registration process. This move is expected to enhance regulatory oversight and foster a more secure environment for virtual asset transactions in Taiwan.
