Taiwan moves to enforce Travel Rule across domestic crypto platforms

Taiwan has proposed mandatory customer information sharing for all domestic crypto platform transfers, with new Travel Rule requirements scheduled to begin in October. Summary Taiwan has proposed mandatory customer information sharing for all domestic crypto platform transfers starting in October. Transfers above NT$30,000 would require additional sender identification, while receiving platforms must verify beneficiary details. The Financial Supervisory Commission plans to extend the Travel Rule requirements to cross border VASP transfers by the end of 2027. The proposal builds on Taiwan’s new Virtual Asset Service Act, which introduced a full licensing framework for crypto businesses in July. According to Taiwan’s Financial Supervisory Commission (FSC), draft amendments released on Tuesday would require virtual asset service providers (VASPs) to exchange customer information for every transfer between domestic crypto platforms, regardless of transaction value. The regulator said transfers above 30,000 New Taiwan dollars (about $930) would face additional identification requirements before they could be processed. The proposal would also require receiving VASPs to verify that benef...