Registration as a VASP in Taiwan is a critical compliance step in planning local virtual asset service operations. Before commencing operations, entities must complete the applicable anti-money laundering registration based on the actual type of services provided and implement customer due diligence, internal controls, and asset protection measures.
Obtaining a cryptocurrency license in Taiwan may be a well-considered strategic move for your company.
In one of Asia’s leading tech hubs, blockchain and cryptocurrency startups enjoy a favorable legal environment that enables them to operate profitably.
This page distinguishes between the current registration process and the licensing system under the new Virtual Asset Services Act to help businesses assess application requirements, project budgets, and ongoing compliance arrangements. Market opportunities do not constitute a guarantee of profitability, registration approval, or the opening of a bank account.
How to Register as a VASP in Taiwan: ChesaGroup assists virtual asset service providers in assessing applicable business activities, preparing application materials and compliance frameworks, and clarifying fees, tax requirements, and account opening requirements. VASP stands for Virtual Asset Service Provider; the current anti-money laundering registration does not directly equate to a full license under the new law.
Overview of Cryptocurrency Licenses in Taiwan
The Financial Supervisory Commission (FSC) was established on July 1, 2004, and is responsible for regulating the nation’s financial markets, including the cryptocurrency sector. It was created to consolidate multiple regulatory agencies in order to effectively manage the rapidly evolving financial industry. The FSC safeguards financial stability by regulating the securities market, the banking sector, and the insurance industry, thereby further promoting the development of financial markets.
In addition to the Financial Supervisory Commission (FSC), Taiwan’s cryptocurrency industry is regulated by numerous government agencies. Although cryptocurrencies are not recognized as legal tender, the Central Bank of the Republic of China (Taiwan) monitors related transactions and issues various recommendations. The Ministry of Justice, which is responsible for enforcing anti-money laundering regulations, ensures that the cryptocurrency industry remains compliant. The Republic of China Virtual Currency Business Association promotes industry self-regulation; under current registration regulations, operators are not permitted to conduct business unless they are members of the association.
Although cryptocurrencies are viewed as investment assets and are subject to various regulatory approaches, they are not recognized as legal tender in Taiwan. Since 2013, the Financial Supervisory Commission (FSC) has introduced several new policies and issued multiple announcements clearly stating that cryptocurrencies are considered virtual commodities rather than official currency.
The main applicable laws include:
Anti-Money Laundering Regulations—Cryptocurrency platforms must comply with the anti-money laundering regulations set forth in the Anti-Money Laundering Act. These regulations took effect on November 7, 2018. On April 7, 2021, the Executive Yuan further clarified the scope of business activities covered by the Anti-Money Laundering Act. These regulations took effect on July 1, 2021.
The Securities Exchange Act (SEA) — applies when cryptocurrencies are deemed to be security tokens.
Securities Token Offering (STO) Regulations—Issued in 2019, these regulations outline compliance measures for securities tokens.
In Taiwan, entities providing virtual asset services subject to regulation must first complete anti-money laundering (AML) registration according to their business category; they may not operate without completing this registration. Companies must also comply with strict anti-money laundering (AML) and know-your-customer (KYC) regulations established by the Financial Supervisory Commission (FSC) and other relevant agencies. These regulations include establishing internal control systems, monitoring suspicious transactions, and ensuring that the majority of remittance transactions are verified using real-name authentication.
Capital requirements must be determined based on applicable regulations and actual business operations; it is not appropriate to generalize that there are no minimum capital requirements. The new “Virtual Asset Services Law” has been promulgated and establishes a framework for minimum capital and margin requirements; the specific amounts and implementation arrangements must be verified in the supporting regulations.
The measures mentioned above for 2018–2021 represent a historical evolution of the system; current applications must comply with the Anti-Money Laundering Registration Measures published in 2024 and subsequent applicable regulations. Anti-money laundering registration, securities-related licenses, and licenses under the new law are distinct matters and cannot be used interchangeably.
Cryptocurrency Licenses in Taiwan: Process and Timelines
For the VASP registration program in Taiwan, an initial work plan can be scheduled for four to six months; however, this is not a statutory approval timeline. Preparatory work, auditor reviews, requests for additional documentation, regulatory reviews, and bank evaluations may extend the actual timeline.
A more detailed breakdown of the process is as follows:
Preparation Phase—First, familiarize yourself with the Financial Supervisory Commission (FSC) regulations and anti-money laundering (AML) standards, and understand the requirements for completing the registration process. Develop a comprehensive business strategy that outlines your virtual asset services, target market, and compliance measures.
Application— Prepare and submit all required documents to the Financial Supervisory Commission (FSC). The document package should include your business strategy, anti-money laundering policies, corporate structure, and details of key personnel.
Review and Evaluation—The Financial Supervisory Commission will first review your application materials to ensure that all documents are complete. Next, the Commission will carefully examine your company’s strategy, anti-money laundering policies, and ability to meet legal standards.
Compliance Check—Verify that your anti-money laundering regulations are in place. The Financial Supervisory Commission may review the background records of all key personnel.
Approval and Operations—Even after completing anti-money laundering registration under the current system, entities must still comply with association, business commencement, and ongoing compliance requirements; the process should not be described as one that necessarily leads to the issuance of a conditional license followed by a final license.
As mentioned earlier, the document package may contain the following:
A detailed business plan;
Anti-Money Laundering Compliance Statement and Policy;
Provide technical documentation to demonstrate your ability to conduct business in the cryptocurrency market;
Tax records and financial statements;
Personal identification and background information on key personnel.
To ensure compliance, you must appoint an Anti-Money Laundering Officer responsible for ensuring compliance with anti-money laundering rules. This officer must be well-versed in anti-money laundering and counter-terrorism financing (CTF) responsibilities.
In addition, you must establish a physical office in that country, equipped with the necessary facilities to manage the operations and compliance requirements of a Virtual Asset Service Provider (VASP). The responsible person and the beneficial owner must meet the eligibility requirements set forth in Article 4 of the Registration Measures, and compliance and information security personnel must possess the appropriate qualifications; a criminal background check alone cannot substitute for a comprehensive eligibility assessment.
Bank partnerships and the protection of customer funds should be incorporated into the project plan, with dedicated accounts, trust arrangements, or bank performance guarantees established in accordance with actual business operations. Accounts held with overseas electronic money institutions do not automatically satisfy Taiwan’s regulatory requirements, and such partnerships do not guarantee profits.
The formal application must also include an internal control checklist and review comments verified by a certified public accountant, as well as appeal procedures and various declarations; the business plan and technical documentation must be consistent with the actual system.
Registration Categories for Virtual Asset Services in Taiwan
The current Anti-Money Laundering Registration Regulations classify virtual asset service providers into virtual asset exchanges, trading platforms, transfer service providers, custodians, and underwriters based on their business activities. The classification should be determined based on the actual services provided to others, rather than solely on the product name, such as “exchange” or “wallet.”
Registration requirements include anti-money laundering, counter-terrorist financing, internal controls, and ongoing compliance. Businesses may not operate without completing the applicable registration; for businesses involving securities, payments, or other activities requiring separate licenses, the relevant laws must also be reviewed individually.
The new "Virtual Asset Services Law" stipulates that licenses and permits must be obtained based on category and introduces institutional arrangements such as virtual asset lending; when applying the law, a distinction must be made between the law’s implementation and its supporting regulations to avoid treating the future scope of licensing as current registration authorization.
Not the same. Anti-money laundering registration is a key requirement under current market access and anti-money laundering regulations; the new “Virtual Asset Services Act” establishes separate requirements for categorized licensing, capital, and operating collateral. Applicants must verify the applicable rules in effect at the time of application, their effective dates, and the transition periods for existing operators; they cannot claim to have obtained a license under the new law based solely on an old registration certificate.
Overseas service providers must first register a Taiwanese company or branch in accordance with the Company Act before they can apply for anti-money laundering registration under the current registration regulations. They must clearly define the responsibilities of the Taiwan-based entity, the location of clients, the flow of funds, the location of custody, group services, and the appointment of local compliance officers. An overseas license does not automatically confer the right to operate in Taiwan; cross-border marketing and other financial business activities are still subject to separate review.
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We assist with the establishment of Taiwan-based entities, applications for VASP anti-money laundering registration, preparation of compliance documents, and bank account openings. Regulatory decisions and account opening outcomes are determined independently by the relevant authorities; pricing is based on the scope of services and actual requirements.
Considering an acquisition as a route to market? An existing regulated business may offer an alternative to a new application, subject to due diligence and any required change-of-control approvals or notifications.
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Preparations for VASP registration in Taiwan should focus on actual business operations, equity structure, and enforceable internal control systems. According toFinancial Supervisory Commission Regulations on Anti-Money Laundering RegistrationArticle 5: Application materials must be forwarded to the Financial Supervisory Commission by the designated agency; an anti-money laundering declaration alone cannot be used in lieu of registration.
We recommend that you also provide documentation regarding system architecture, wallet permissions, risk assessments, transaction monitoring tests, and emergency drill records to demonstrate that the system can be effectively implemented. Incomplete materials or insufficient explanations may require corrections; failure to correct them by the deadline may result in the application not being registered.
The budget should itemize the following separately: entity establishment, legal documentation, internal control review by an accountant, compliance personnel, KYC and transaction monitoring systems, information security, banking and trust arrangements, professional association fees, and ongoing bookkeeping and reporting. Government or third-party fees will be determined based on the actual rates in effect at the time of application; service quotes do not equate to regulatory fees.
The fact that the current registration regulations do not specify a uniform minimum capital requirement should not be interpreted to mean that “no capital is required.” Enterprises must still possess operating resources commensurate with the scale of their business. Article 11 of the new “Virtual Asset Services Law” establishes a separate framework for minimum capital or the allocation of operating funds and business security deposits; the specific amounts and effective dates must be verified in accordance with the relevant regulations issued by the competent authorities.
The bank will independently review the business model, beneficial owners, sources of funds, transaction regions, and compliance capabilities. The company’s operating account and client funds must be structured separately; if client fiat currency is held, Article 11 of the Registration Rules requires a dedicated deposit account in the same currency, which must be placed in trust or backed by a full performance guarantee from the bank. A standard corporate account cannot serve as a substitute for this arrangement, and assistance with opening an account does not guarantee that the bank will approve the application.
Taxes should be assessed separately based on the entity’s status, the nature of its income, the transaction structure, and actual business operations; a single income tax rate should not be treated as the total tax burden. When initiating a project, a local accountant should verify the income tax, business tax, and cross-border payment reporting requirements.
Pursuant to Article 6 of the Registration Regulations, businesses must, in principle, commence operations within six months of completing registration; if there are valid reasons, an application for an extension must be submitted before the deadline expires. The extension shall not exceed six months and may be granted only once. Businesses may not operate unless they are members of the Republic of China Virtual Currency Business Association.
The “Virtual Asset Services Act” was promulgated on July 22, 2026. As of November 12, 2026, the Financial Supervisory Commission’s regulations page still indicates that the Act has not yet taken effect; Article 56 stipulates that the effective date shall be determined by the Executive Yuan. The date of promulgation cannot be directly considered the date of full implementation.
Article 55 stipulates that existing operators meeting the transitional requirements must apply for a license within twelve months after the new law takes effect and obtain the license and certification within twenty-one months after its implementation; if necessary, the deadline for obtaining certification may be extended once by three months. The above time limits are calculated from the effective date, not from the date of promulgation or the date of anti-money laundering registration. Specific implementation details are subject to subsequent enforcement orders and supporting regulations.
Legal Basis:Full Text of the Virtual Asset Services Act, Regulations on Registration for the Prevention of Money Laundering. For a comparison with other markets, seeAsia-Pacific Cryptocurrency Regulatory Guidelines, Hong Kong VATP License and Singapore DPT License.
Projects by Taiwanese virtual asset service providers can be divided into three phases: compliance preparation, registration application, and banking and launch arrangements. The timeframes listed below are for project planning purposes only and do not constitute a commitment regarding the time required for regulatory approval or opening a bank account.
Comply with Anti-Money Laundering/Know Your Customer (AML/KYC) requirements
Before applying for anti-money laundering registration, a company must first ensure that it complies with anti-money laundering and Know Your Customer (KYC) requirements.
Develop and implement an anti-money laundering policy tailored specifically to your company’s business operations;
Appoint a dedicated anti-money laundering officer to oversee compliance efforts;
Establish KYC procedures to verify and monitor customer identities.
Ensure ongoing compliance with regulatory updates and requirements.
Simultaneously, complete the business classification, verification of equity and beneficial ownership, prepare for the auditor’s review of the internal control system, and verify that the system aligns with actual business processes.
Application for VASP Registration in Taiwan
Once the Anti-Money Laundering/Know Your Customer (AML/KYC) requirements are met, the next step is to submit an application for anti-money laundering registration to the Financial Supervisory Commission (FSC) through the designated agency, as required by law. This requires preparing and submitting a series of documents to demonstrate the application’s feasibility and compliance.
Develop a comprehensive business plan: It must provide a detailed description of your services, target market, and compliance measures;
Gather the required documents, including company registration documents, anti-money laundering policies, and information on key personnel;
Submit the application through the designated channels for review and evaluation by the FSC;
Undergo a thorough review by the Financial Supervisory Commission, including background checks on key personnel.
Submit the auditor's review opinion and the appeal handling procedures as required, and respond promptly to requests for corrections. After completing the registration, you must also meet the requirements of the professional association and the conditions for commencing business.
Opening a Corporate Bank Account and Preparing to Launch a Business
The bank's evaluation can proceed in coordination with project preparation; the timing and requirements for opening an account are determined independently by the bank.
After registration, firms must join a trade association and commence operations within the prescribed timeframe, establishing disclosure, monitoring, and reporting mechanisms. There is no guarantee that a bank will open an account, nor can a regular account be used as a substitute for client asset protection requirements.
Arrange a free initial consultation with our advisory team. We can discuss your questions, review the proposed project and identify regulatory options suited to its objectives and budget.
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