Regulator sets $930 threshold for additional customer data requirements on virtual asset transfers starting October.
Taiwan’s Financial Supervisory Commission will enforce the FATF Travel Rule for domestic crypto transfers beginning October. The rule mandates virtual asset service providers (VASPs) to share customer information for all platform-to-platform transfers, regardless of value.
Transfers exceeding 30,000 New Taiwan dollars ($930) will require additional data, including sender birth dates or corporate identification numbers. Receiving VASPs must verify beneficiary details against their records. Taiwan initially adopted Travel Rule provisions in 2021 but delayed implementation due to global regulatory inconsistencies.
The FSC plans to extend the framework to cross-border transfers by the end of 2027. A 30-day public consultation on the proposed amendments will begin shortly.