Taiwan Passes Crypto Framework Bill for Platforms and Stablecoin Issuers

Taiwan's Legislative Yuan passed the Virtual Asset Service Act in its third reading, setting 12-month and 21-month transition deadlines for AML-registered crypto platforms. President Lai Ching-te is expected to promulgate the law within 10 days. Stablecoin issuers must obtain approval from the central bank and the FSC and maintain full reserve backing. Illegal operators could face up to seven years in prison and fines of up to NT$100 million.
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