Taiwan Proposes Virtual Asset Service Law for Public Consultation

According to Foresight News, Taiwan's Financial Supervisory Commission has released a draft of the "Virtual Asset Service Law" for a 60-day public consultation period. The draft outlines key regulations, including a licensing system for virtual asset service providers, operational management requirements, a framework for stablecoin issuance, anti-fraud and market manipulation rules, and penalties for violations. The public consultation will last for 60 days following the announcement, with the draft expected to be submitted to the Executive Yuan for review by the end of June 2025.