Taiwan Cracks Down on Crypto Transfers with New Customer Data-Sharing Rules

Taiwan's Financial Supervisory Commission (FSC) has proposed draft amendments that would require customer information sharing for every transfer between domestic crypto platforms, regardless of transaction size. The proposal builds on Taiwan's Virtual Asset Service Act, passed in July 2026, which replaced AML registration with full licensing for exchanges and custodians.

According to the FSC, transfers above NT$30,000 would require senders to add birth date and address (individuals) or an ID number and business address (corporates). Receiving platforms must verify beneficiary details against their own customer records before completing a transfer. This rule aims to close a fraud vector that a purely sender-side rule would have left open.

The consultation window matters here, as the FSC has opened a 30-day public consultation before any final rules are adopted. The October changes apply only to transfers between Taiwanese crypto platforms, with the FSC intending to extend the same framework to transactions involving domestic and overseas VASPs by the end of 2027.

Taiwan's move tracks a broader compliance trend, as the Financial Action Task Force reported in July that 83% of surveyed jurisdictions have now enacted Travel Rule legislation. The FATF said implementation remains uneven, with many jurisdictions still facing enforcement and operational challenges after adopting the legal framework.