Blocktempo reported that Taiwan's Financial Supervisory Commission (FSC) plans to apply the Travel Rule to cryptocurrency transfers between local Virtual Asset Service Providers (VASPs) starting in October. If a single transfer exceeds 30,000 New Taiwan Dollars (approximately 1.32 million KRW), individuals must submit their date of birth and address, while legal entities must submit their official identification number and registered address. The receiving VASP must verify that the information received matches existing customer information. For transactions below 30,000 New Taiwan Dollars, basic information such as the sender's and recipient's names, wallet addresses, or transaction identification numbers will still be transmitted. The Taiwanese authorities initially plan to apply this to transfers between local VASPs and then expand it to transfers with overseas VASPs by the end of 2027. However, the October implementation schedule is not yet finalized, as the amendment still needs to undergo a 30-day administrative notice period.
