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Taiwan Legislature Passes First Crypto and Stablecoin Law With Prison Terms

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Taiwan's Legislative Yuan passed the Virtual Asset Service Act on July 1, creating the country's first regulatory framework for cryptocurrency and stablecoins. The bill has been sent to President Lai Ching-te, who is expected to sign it within 10 days. Virtual Asset Service Providers must obtain a license from the Financial Supervisory Commission before operating. Unlicensed VASP operation or stablecoin issuance carries up to seven years in prison and fines of up to 100 million New Taiwan dollars.
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