Taiwan Drafts Crypto Licensing Rules, Sets NT$100M Capital Floor for Platforms

Taiwan's Financial Supervisory Commission dropped eight draft rules for crypto service providers on Nov. 3, and the price of a license just got real. Trading platforms and custodians would need at least NT$100 million in capital. Crypto lenders would need double that — NT$200 million in paid-in capital.

Smaller players get a lower bar. Firms that only exchange, transfer or underwrite virtual assets would face a NT$50 million minimum. But the FSC isn't letting anyone stack services on the cheap: a company offering more than one activity must meet the combined capital requirements for all of them. The same stacking rule applies to the operating guarantee deposits — NT$30 million for trading platforms and custodians, NT$50 million for lenders.

Banks already in the crypto custody game get a runway. Under the drafts, they could initially seek permission to offer exchange, transfer, custody and underwriting services, though their exchange and transfer services would be restricted to corporate customers. The proposal also carves out transition provisions for existing registered providers and financial institutions that already handle crypto services.

The rules are the engine for Taiwan's Virtual Asset Service Act, which was promulgated on July 22 but hasn't taken effect yet. The FSC wants the law and its implementing rules to go live on the same day, avoiding an awkward gap where the statute exists but nothing enforces it.

The public gets a say, but not for long. Once the drafts appear in the Executive Yuan Gazette, commenters have 40 days starting the day after publication. After that, Taiwan's crypto industry will know exactly what it costs to stay legal — and who can afford the ticket.