Northbound funds director reports virtual assets! Fan Huanying and her husband hold 13 types of cryptocurrencies worth over 7 million

Author: Ariel, Crypto City

The Director of Taipei Water Department reports virtual asset holdings!
The Control Yuan released the latest asset declaration data on April 28th, revealing, besides the public’s curiosity about Taipei Mayor Chiang Wan-an and former Taipei Vice Mayor Li Sichuan’s declared assets, that “Crypto City” also discovered that the Director of Taipei Water Department, Fan Huanying, and his wife reported cryptocurrency assets worth over 7 million TWD.

Fan Huanying and his wife hold 13 types of cryptocurrencies, valued at up to 7.34 million NT dollars
According to the public official asset declaration documents released by the Control Yuan (page 352), Taipei Water Department Director Fan Huanying and his wife Jiang Jiajie jointly declared a total virtual asset value of 7,340,237 NT dollars, holding as many as 13 different cryptocurrencies, all stored on the centralized exchanges Binance and MAX.
Further examining the declaration details, their holdings are primarily in Bitcoin. Fan Huanying owns about 0.19 BTC on Binance, worth 642,499 NT dollars, and about 0.8 BTC on MAX, valued at 2,713,830 NT dollars; his wife Jiang Jiajie also holds 0.2 BTC on MAX, worth 676,252 NT dollars.
Besides Bitcoin, Fan Huanying also holds various mainstream and emerging tokens.
On the MAX exchange, he declared about 10 ETH worth 1,214,213 NT dollars, and about 44k MAX tokens valued at 471,980 NT dollars, along with a small amount of Litecoin (LTC).
On Binance, Fan Huanying holds about 33.8 BNB, valued at 1,135,462 NT dollars, as well as XRP, DOGE, and a total of over 94.72 billion Shiba Inu tokens (SHIB) and stablecoins $USDC , and also declared tokens received from platform distributions such as $ENA , $PENGU , and $LISTA .
Based on the declared values, the declaration time likely falls around November 2025, when Bitcoin was still around 3.2 million NT dollars per coin, but has since dropped to about 2.4 million NT dollars.

Cryptocurrency declaration threshold is 200k NT dollars, requiring disclosure of storage institutions
As cryptocurrencies become more widespread, the Control Yuan has established clear regulations for public officials holding virtual assets. Earlier this year, Kuomintang non-district legislator Ge Rujun and fellow KMT legislator Liao Weixiang also disclosed holdings of Bitcoin and Ethereum respectively.

• Related report: Ge Rujun: Only two Taiwanese legislators have declared Bitcoin! Liao Weixiang holds 7 million in crypto assets all stored on Binance

In a 2023 explanatory article on virtual asset declarations, the Control Yuan stated that as long as the total of virtual assets held by the declarant, spouse, and minor children on the declaration date exceeds NT$200k, they must be declared.
To avoid overly complicated procedures, the regulations include exemptions: if the value of a single type of virtual asset is below NT$1,000, it does not need to be itemized, but its value still counts toward the NT$200k total threshold.
Additionally, the Control Yuan requires declarants to accurately specify the storage institution or wallet provider, such as exchanges or custodial services, to enhance transparency; if stored in a cold wallet, this can be specially noted on the form.
As cryptocurrencies are incorporated into the “Public Officials Asset Declaration Law,” the National Taxation Bureau has also demonstrated research on crypto taxation regulations for the public, and the licensing system for Virtual Asset Service Providers (VASPs) has been implemented. Taiwan’s crypto market has gradually transitioned from an unregulated era to mainstream compliance. Once the “Virtual Asset Service Law” is successfully enacted, Taiwan’s crypto industry will open a new chapter.