Taiwan Financial Supervisory Commission Plans Virtual Asset Custody Services

According to Foresight News, the Taiwan Financial Supervisory Commission (FSC) is planning to introduce virtual asset custody services. Reports indicate that three banks have already expressed interest in this initiative, with the first trial applications for virtual asset custody services expected in the first quarter of next year. The target clients for these services will include virtual asset exchanges and professional institutional investors. The FSC has outlined that financial institutions applying for the trial of virtual asset custody services must specify the types of virtual assets they will manage, such as Bitcoin, Ethereum, and Dogecoin. Additionally, they must identify their service targets, which could include virtual asset platforms, professional investors, or general investors.