Taiwan to Implement Travel Rule for Cryptocurrency Transfers Between Domestic Platforms Starting October

Taiwan to Implement Travel Rule for Cryptocurrency Transfers Between Domestic Platforms Starting October

Beginning in October, Taiwan will implement the Travel Rule for cryptocurrency transfers between domestic virtual asset service providers, with plans to expand the requirement to international platforms by late 2027.

Starting this October, cryptocurrency platforms operating in Taiwan will be mandated by the nation's financial regulator to share customer data for all transfers conducted between domestic platforms.

The Financial Supervisory Commission announced on Tuesday that its proposed regulatory amendments would implement the Financial Action Task Force's (FATF) Travel Rule without any minimum value threshold.

For transfers that exceed 30,000 New Taiwan dollars (approximately $930), platforms must collect and transmit enhanced information, which includes a private individual sender's residential address and date of birth, or for business entities, the official identification number and registered address. Virtual asset service providers on the receiving end would need to verify that beneficiary data provided by the sending platform matches the information they have on file.

By the end of 2027, the FSC intends to broaden the regulatory framework to encompass transfers that occur between domestic VASPs and those based overseas.

While Taiwan incorporated Travel Rule provisions into its AML regulations in 2021, actual implementation was delayed due to varying regulatory requirements across different countries, incompatible standards for information transmission, and challenges in establishing connections between cross-border systems. According to the FSC, the proposed regulatory amendments will undergo a 30-day public consultation period in the near future.

This proposal emerges at a time when Travel Rule adoption is making progress worldwide, though implementation remains inconsistent. The FATF reported in July that 83% of jurisdictions surveyed had passed Travel Rule legislation, representing an increase from 73% in 2025, though the organization cautioned that substantial gaps persist in both implementation and enforcement across different regions.