Taiwan Plans Travel Rule Expansion for Domestic Crypto Transfers

Taiwan's Financial Supervisory Commission (FSC) has proposed revised rules to apply the travel rule to all transfer transactions between domestic virtual asset service providers (VASPs). The proposal aims to expand the rule, which was initially incorporated into Taiwan's anti-money laundering framework in 2021. However, due to differences in regulations across jurisdictions and difficulties linking systems across borders, implementation was delayed.

The revised rules would require customer information to be transmitted for all transfer transactions between local digital-asset service providers, regardless of transaction size. For transfers exceeding NT$30,000, additional information such as a customer's date of birth and residential address would be required.

The FSC plans to open the proposal for a 30-day public comment period and expand the rule to transfer transactions involving overseas digital-asset service providers by the end of 2027. The Financial Action Task Force's travel rule would be applied to ensure compliance with international standards.