Taiwan’s Financial Supervisory Commission (FSC) has announced plans to require crypto platforms to transmit customer information on all domestic platform-to-platform transactions starting in October. The initiative is part of a broader effort to strengthen anti-money laundering (AML) measures in the country’s growing digital asset sector.
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AAPLFSC announces stricter transfer requirements
The FSC stated that these requirements would apply the Financial Action Task Force’s (FATF) Travel Rule to all domestic transactions, irrespective of their value. The planned rules will make Taiwan one of the first markets in Asia to enforce comprehensive Travel Rule coverage across its crypto sector.
For transfers exceeding 30,000 New Taiwan dollars—about $930—a set of more detailed reporting obligations will apply. In such cases, platforms must collect and transmit the sender’s date of birth and residential address for individuals, or the official company identification number and registered address for corporate clients. Additionally, receiving virtual asset service providers (VASPs) must match beneficiary information provided by the originating platform with their internal records.
The FSC has also disclosed a timeline that extends the Travel Rule framework to include transfers between domestic and foreign VASPs by the end of 2027.
The regulator said the proposed changes would soon enter a 30-day public consultation period. This allows stakeholders to voice opinions before the measures become final.
Mini dictionary: Financial Supervisory Commission (FSC), Taiwan’s government body overseeing banking, securities, futures, and insurance, is the country’s primary financial regulator.
Background to the Travel Rule and global adoption
The FATF Travel Rule requires crypto service providers to collect and transmit specific information about both the sender and the recipient during virtual asset transfers. The global standard aims to increase transparency and reduce risks of money laundering and terrorist financing in digital asset markets.
Taiwan amended its anti-money laundering regulations to include the Travel Rule in 2021. However, implementation was postponed due to challenges such as inconsistent regulatory standards across countries and technical difficulties in system integration for cross-border transfers.
The FSC’s recent move comes amid uneven global implementation of the Travel Rule. In July, the FATF reported that 83% of surveyed jurisdictions had enacted Travel Rule legislation, up from 73% in 2025, but flagged continuing enforcement and technical challenges.
| Jurisdiction | Travel Rule Legislation Enacted | Enforcement/Implementation |
|---|---|---|
| Taiwan | Planned, effective October 2024 | Domestic transfers, expanded by 2027 |
| Global (FATF Survey) | 83% as of July 2024 | Not uniform, gaps remain |
The proposal follows recent moves in Taiwan’s legislature to advance crypto and stablecoin regulations, reflecting an increased focus on compliance and consumer protections. The FSC intends to coordinate measures to address technological gaps and ensure smoother information exchange as global standards evolve.
For domestic crypto transactions, platforms will be required to transmit customer information for every transfer, regardless of the transfer amount. Additional data will be collected for transactions above 30,000 New Taiwan dollars, including more detailed personal and corporate identifiers.
