Northbound capital chief reports virtual assets! Mr. and Mrs. Fan Huanying hold "13 cryptocurrencies" worth over 7 million

Author: Ariel, Encrypted City

The Taipei Water Department Director reports virtual asset holdings! The Control Yuan released the latest asset declaration data on April 28, and besides the many public curiosities about Taipei Mayor Chiang Wan-an and former Taipei Vice Mayor Li Sichuan’s declared assets, “Encrypted City” also discovered that Taipei Water Department Director 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 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 of 7,340,237 NT in virtual assets, holding as many as 13 different types of coins, all stored on the centralized cryptocurrency exchanges Binance and MAX. Further examining the declaration details, the assets held by the couple are primarily in Bitcoin. Fan Huanying owns about 0.19 BTC on Binance, worth 642,499 NT, and about 0.8 BTC on MAX, valued at 2,713,830 NT; his wife Jiang Jiajie also holds 0.2 BTC on MAX, worth 676,252 NT. In addition to Bitcoin, Fan Huanying also holds various mainstream and emerging tokens. On the MAX exchange, he declared about 10 ETH worth 1,214,213 NT, and about 44k MAX tokens valued at 471,980 NT, along with a small amount of Litecoin ($LTC). On Binance, Fan Huanying holds about 33.8 BNB worth 1,135,462 NT, as well as Ripple ($XRP), Dogecoin ($DOGE), and up to 94.72 million Shiba Inu ($SHIB) tokens 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 one Bitcoin was still approximately 3.2 million NT but has since dropped to about 2.4 million NT.

Cryptocurrency declaration threshold is 200k NT, 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-constituency 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 entirely on Binance

In a 2023 article clarifying virtual asset declaration rules, the Control Yuan stated that if the total of virtual assets held by the declarant, spouse, and minor children exceeds the equivalent of 200k NT on the declaration date, it must be declared. To avoid overly complicated procedures, the regulations include exemptions: if the value of a single type of virtual asset is below 1,000 NT, it does not need to be itemized, but its value must still be included in the total threshold of 200k NT. 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 the assets are stored in cold wallets, 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. Moreover, the licensing system for Virtual Asset Service Providers (VASPs) has been implemented, marking Taiwan’s crypto market transition from an informal era to mainstream compliance. Once the “Virtual Asset Service Law” is successfully legislated, Taiwan’s crypto industry will open a new chapter.