Anti-fraud framework draft approved for cryptoSTRICT PENALTIES: The virtual asset service act, which would be rolled out in four phases, aims to bring crypto asset providers under closer supervisionBy Chung Li-hua / Staff reporterThe Executive Yuan yesterday approved a draft of the virtual asset service act (虛擬資產服務法), introducing strict penalties for unlicensed or fraudulent activities in the crypto sector. Those issuing stablecoins without a license could face up to seven years in prison and fines of up to NT$100 million (US$3.13 million), according to the draft. The new framework includes industry self-regulation, a registration system for anti-money laundering compliance and the introduction of a dedicated virtual asset service act which would be implemented in four gradual phases, he said. The measures also aim to bolster the security of virtual asset transactions, pilot custody services and support the growth of domestic financial innovation, he added. Under the draft, the types and establishment of VASP must be approved.

Source: Taipei Times April 02, 2026 16:03 UTC