Taiwan Cracks Down on Crypto Transactions with New Customer Info Sharing Rules

Taiwan has proposed new regulations for domestic cryptocurrency transactions, requiring customer information sharing and verification of beneficiary details.

The Financial Supervisory Commission (FSC) plans to introduce these requirements in October, starting with transfers above NT$30,000. Platforms handling such transfers will need to transmit detailed customer information, including the sender's date of birth and residential address or official identification number and registered business address for corporate senders.

The receiving platforms will also be required to verify that the beneficiary details provided match their own records before completing the transaction.

The FSC aims to extend these requirements to cross-border transactions by the end of 2027, aligning with international standards set by the Financial Action Task Force (FATF).