Taiwan plans October Travel Rule rollout for local crypto transfers

Taiwan's Financial Supervisory Commission plans to require virtual asset service providers to apply the Travel Rule to all domestic platform-to-platform crypto transfers from October, extending customer-information sharing across the local market before broader cross-border coverage arrives by the end of 2027. The proposed amendments would apply the Financial Action Task Force standard regardless of transaction value, while transfers above NT$30,000, or about $930, would trigger extra data checks for individuals and companies. Receiving VASPs would also have to compare beneficiary information from the originating platform with their own records. Taiwan included Travel Rule provisions in its anti-money laundering rules in 2021 but did not implement them, citing incompatible transmission standards, differing regulatory regimes and cross-border connectivity problems. The FSC said the amendments will enter a 30-day public consultation as global Travel Rule adoption continues to rise, though enforcement gaps remain. The proposal also follows Taiwan's July 2026 Virtual Asset Service Act, which replaced the earlier AML registration regime with a licensing framework for exchanges, trading platforms, custodians, transfer providers and other crypto businesses, introduced rules on cybersecurity, client-asset segregation, internal controls, financial reporting and market conduct, and created a joint approval regime with the central bank for stablecoin issuance.