Taiwan to Launch Crypto Custody Service Trials with Local Banks in 2025

Taiwan to Launch Crypto Custody Service Trials with Local Banks in 2025

Taiwan is making significant strides towards institutional adoption of cryptocurrencies. The Financial Supervisory Commission (FSC) plans to pilot crypto custody services through local banks in the first quarter of 2025.

Program Details

Banks interested in participating must specify the digital assets they will store, including popular cryptocurrencies like Bitcoin, Ether, and Dogecoin. They must also identify their target users, such as professional investors or crypto-asset platforms.

Participant Interest

Three local private banks have already expressed interest in the program.

Regulatory Framework

The FSC will release program details 15 days before accepting applications. It will also seek public feedback and make adjustments based on input.

This initiative aligns with Taiwan's growing engagement with the crypto sector. The FSC recently introduced new Anti-Money Laundering (AML) regulations for virtual asset service providers (VASPs), requiring registration by September 2025. Compliance failures could result in penalties or imprisonment.

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