Taiwan FSC Proposes Travel Rule for Domestic Crypto Transfers from October

Taiwan's Financial Supervisory Commission announced Tuesday proposed amendments requiring cryptocurrency platforms to transmit customer information on all domestic platform-to-platform transfers starting in October. The amendments would apply the Financial Action Task Force's Travel Rule regardless of transaction value. The proposal enters a 30-day public consultation period, as global Travel Rule adoption reaches 83% of surveyed jurisdictions according to FATF's July report, up from 73% in 2025.

FSC Sets 30,000 TWD Threshold for Enhanced Data Requirements

The Financial Supervisory Commission said transfers exceeding 30,000 New Taiwan dollars (about $930) would trigger additional data requirements. For individual senders, platforms must collect date of birth and residential address. For corporate senders, platforms must obtain the official identification number and registered address. Receiving VASPs would be required to compare beneficiary information supplied by the originating platform with their own records.

Taiwan Plans Cross-Border VASP Coverage by End of 2027

The FSC plans to extend the framework to transfers between domestic and overseas VASPs by the end of 2027. The proposed amendments would soon enter a 30-day public consultation.

FSC Cites Cross-Border System Challenges for 2021 Non-Implementation

Taiwan introduced Travel Rule provisions in its AML regulations in 2021 but did not implement them. The FSC cited differences among countries' regulatory requirements, incompatible information-transmission standards, and difficulties connecting cross-border systems as reasons for non-implementation.

FATF Reports 83% Jurisdictions Enacted Travel Rule Legislation

In July, the FATF said 83% of surveyed jurisdictions had enacted Travel Rule legislation, up from 73% in 2025. The organization warned that significant implementation and enforcement gaps remained despite the legislative progress.

FAQ

What data requirements does Taiwan's FSC propose for crypto transfers exceeding 30,000 TWD?

The FSC proposes that transfers exceeding 30,000 New Taiwan dollars (about $930) require additional data: individual senders must provide date of birth and residential address, while corporate senders must provide official identification number and registered address. Receiving VASPs must compare beneficiary information supplied by the originating platform with their own records.

Why did Taiwan not implement Travel Rule provisions introduced in 2021?

The FSC cited differences among countries' regulatory requirements, incompatible information-transmission standards, and difficulties connecting cross-border systems as reasons for not implementing the Travel Rule provisions introduced in Taiwan's AML regulations in 2021.