Taiwan Mandates Customer Info Sharing for Domestic Crypto Transfers

Taiwan is expanding its cryptocurrency regulations by introducing mandatory customer information sharing for all domestic crypto platform transfers. The new Travel Rule requirements, which will begin in October, apply to transfers of over NT$30,000 (approximately $930 USD). This means that platforms handling these transactions must provide more 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 platform is also required to verify the beneficiary details against their own customer records before completing the transaction. The Financial Supervisory Commission (FSC) plans to extend this framework to cross-border Virtual Asset Service Provider (VASP) transfers by the end of 2027.

This move follows Taiwan's recent overhaul of its cryptocurrency regulatory framework, which introduced a licensing system for crypto businesses and established criminal penalties for unlicensed activity. The FSC aims to address implementation challenges faced in previous attempts to introduce Travel Rule provisions.