Taiwan FSC Plans October Travel Rule for Domestic Crypto Transfers

Taiwan's Financial Supervisory Commission (FSC) plans to require crypto platforms to transmit customer information on all domestic platform-to-platform transfers starting in October. On Tuesday, the FSC announced proposed amendments that would apply the Financial Action Task Force's (FATF) Travel Rule regardless of transaction value. The regulator aims to align Taiwan's virtual asset service provider (VASP) framework with international anti-money laundering standards, addressing a regulatory gap that has persisted since Taiwan introduced Travel Rule provisions in its AML regulations in 2021 but did not implement them due to cross-border coordination challenges.

FSC Sets 30,000 TWD Threshold for Enhanced Data Requirements

The FSC's proposed amendments establish a two-tier data transmission system. All domestic platform-to-platform transfers will require basic customer information sharing regardless of value. Transfers exceeding 30,000 New Taiwan dollars (approximately $930) will trigger additional data requirements. For individual senders, originating VASPs must transmit the sender's date of birth and residential address. For corporate senders, platforms must provide the official identification number and registered address. Receiving VASPs are required to compare beneficiary information supplied by the originating platform with their own customer records.

Taiwan Schedules October Rollout and 2027 Overseas Extension

The FSC plans to extend the Travel Rule framework to transfers between domestic and overseas VASPs by the end of 2027. The proposed amendments will enter a 30-day public consultation period. 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 the delay.

FATF Reports 83% Global Jurisdictions Enacted Travel Rule Legislation

In July, the FATF reported that 83% of surveyed jurisdictions had enacted Travel Rule legislation, an increase from 73% in 2025. The task force warned that significant implementation and enforcement gaps remained despite the legislative progress. Taiwan's proposal reflects the global advancement of Travel Rule adoption, though implementation remains uneven across jurisdictions.

FAQ

What is Taiwan's FSC requiring crypto platforms to do starting in October?

Taiwan's Financial Supervisory Commission plans to require crypto platforms to transmit customer information on all domestic platform-to-platform transfers starting in October, applying the FATF Travel Rule regardless of transaction value. Transfers exceeding 30,000 New Taiwan dollars (about $930) will trigger additional data requirements including sender's date of birth and residential address for individuals, or official identification number and registered address for corporate senders.

When will Taiwan extend the Travel Rule to overseas crypto transfers?

The FSC plans to extend the Travel Rule framework to transfers between domestic and overseas virtual asset service providers by the end of 2027. The proposed amendments will first enter a 30-day public consultation period before the October domestic implementation.