Taiwan Mandates Crypto Data Sharing to Tighten Asset Oversight

The proposed amendments mandate that for any transfer exceeding NT$30,000—approximately $930—platforms must collect and transmit the sender’s date of birth and residential address, or official registration details for corporate entities. Receiving firms are then obligated to cross-reference this transmitted data against their internal records before authorizing the release of funds. These measures mark a definitive shift from Taiwan’s previous, largely dormant anti-money laundering registration model toward a proactive, enforcement-heavy oversight system.

This framework follows the July passage of the Virtual Asset Service Act, which overhauled the industry by replacing simple compliance registrations with a comprehensive licensing regime. While previous attempts to implement these travel rules in 2021 stalled due to technical incompatibilities and inconsistent global standards, regulators are now prioritizing domestic integration before tackling the complexities of cross-border VASP transfers. The FSC has opened a 30-day public consultation period to finalize these rules, signaling that crypto businesses must now prepare for rigorous scrutiny of both their internal data handling and their market conduct.