Taiwan Passes Crypto Licensing Law With Reserve Mandates and Penalties

Taiwan lawmakers approved the Virtual Asset Service Act, giving already AML-registered crypto platforms up to 21 months to obtain full FSC approval. The law requires all virtual asset service providers to obtain FSC licenses before legal operation. The legislation adds tougher penalties, reserve mandates, and tighter stablecoin rules. President Lai Ching-te is anticipated to formally sign the law within the next ten days.
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