The proposal builds on Taiwan’s Virtual Asset Service Act, passed in July 2026, which replaced AML registration with full licensing for exchanges and custodians. The draft, according to Taiwan’s Financial Supervisory Commission, covers virtual asset service providers, or VASPs, operating inside Taiwan. Built on a New Licensing FrameworkThe Travel Rule proposal lands three weeks after Taiwan’s broader crypto overhaul. Taiwan’s crypto oversight has widened beyond licensing in other ways too. Per FATF Travel Rule compliance data, 14 jurisdictions, 12% of those assessed, were still in progress on Travel Rule legislation as of 2025.