Taiwan Unveils Draft Crypto Rules With NT$100 Million Platform Capital Floor

Taiwan’s Financial Supervisory Commission (FSC) outlined eight draft rules for crypto service providers on Nov. 3, including a NT$100 million capital floor for trading platforms and custodians under its new licensing law.

Crypto lenders would need at least NT$200 million in paid-in capital. The proposed minimum is NT$50 million each for firms that exchange, transfer or underwrite virtual assets. A company offering multiple services would have to meet the combined capital requirements for those activities.

The drafts also set operating guarantee deposits of NT$30 million for trading platforms and custodians and NT$50 million for lenders. Those amounts would likewise add together when a firm offers more than one service.

Banks already providing crypto custody could initially seek permission to offer exchange, transfer, custody and underwriting services. Their exchange and transfer services would be limited to corporate customers. The drafts include transition provisions for existing registered providers and financial institutions already offering crypto services.

Taiwan’s Virtual Asset Service Act was promulgated July 22 but has not taken effect. The FSC plans for the law and its implementing rules to take effect on the same day. The public will have 40 days to comment, starting the day after the drafts appear in the Executive Yuan Gazette.