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Taiwan

Taiwan is FSC-led. There is no enacted standalone crypto statute yet — the draft Virtual Asset Service Provider Act went to the Executive Yuan in June 2025 (first regulated stablecoin H2 2026 at the earliest); VASPs operate under mandatory FSC AML registration (September 2025) under the amended Money Laundering Control Act. Payments and e-money are licensed under the Act Governing Electronic Payment Institutions 2015 (amended 2020), with NT$100m / NT$300m / NT$500m capital by activity. Gambling is criminally prohibited under Article 266 of the Criminal Code; only the Public Welfare Lottery and Taiwan Sports Lottery (both CTBC concessions) are authorised.

Available licences

Crypto — FSC VASP AML Registration (mandatory; Sept 2025 deadline)

Mandatory FSC AML registration for all VASPs serving Taiwanese users (domestic or foreign-facing) under the amended Money Laundering Control Act (July 2024 reinforcement); the operative regime pending VASP Act passage.

Crypto — VASP Act Licence (forthcoming; expected 2026)

A full FSC licence under the draft VASP Act (MiCA-modelled); company limited by shares; minimum capital + operational guarantee bond; fit-and-proper for responsible persons/staff; mandatory industry-association membership; customer-asset segregation; foreign VASPs serving Taiwan must establish a local branch with FSC approval.

Crypto — Stablecoin Issuer Approval (forthcoming; VASP Act Articles 34–35)

FSC approval (after CBC consultation) to issue stablecoins; reserve assets segregated and held with domestic financial institutions; initial issuance limited to licensed financial institutions in the "gradual opening" phase; no interest on stablecoins; issuance/redemption at face value.

Crypto — Bank Custody Trial (FSC, 2025)

FSC virtual-asset custody business trial open to financial institutions (announced 28 November 2024; applications January–April 2025); pilot for bank-regulated institutional custody.

Payments — Electronic Payment Institution (EPI) Specialised Licence (FSC)

FSC specialised licence under the Act Governing Electronic Payment Institutions (real-transaction agency, stored funds, fund transfer between e-payment accounts); minimum capital NT$100m / NT$300m / NT$500m by scope; cross-border-remittance subset for foreign workers.

Payments — Bank-Owned EPI (incorporated business)

Existing banks may operate EPI businesses as part of their authorised activities (subject to FSC approval); Chunghwa Post Co. is also a specifically authorised participant.

Payments — Third-Party Payment Service Provider (TPP) — FSC AML Registration

TPPs (below the EPI threshold) are not full EPI-licensed but must register with the FSC for AML purposes under the amended AML Act (criminal liability for non-registration).

Banking / Digital-Only Bank Licence (FSC)

Banking licences under the Banking Act and Financial Holding Company Act; digital-only banks licensed since 2018/2019.

Gambling — Public Welfare Lottery (CTBC) — state concession

Exclusive Public Welfare Lottery concession granted by the Ministry of Finance to CTB (China Trust Bank / CTBC Financial Holding) — currently in its fifth term; not available to private operators.

Gambling — Taiwan Sports Lottery (CTBC / TSLC) — state concession

Exclusive sports-betting concession under the Sports Lottery Issuance Act 2008, operated by CTBC/TSLC; the only legal sports betting in Taiwan; not available to private operators.

Gambling — Offshore-Island Tourist Casino (Kinmen / Matsu / Penghu) — referendum + (pending) Tourism Casino Administration Act

Authorised in principle by the Offshore Islands Development Act amendment of 2009 if a local referendum approves (>50% in favour, with the OIDA-specific turnout carve-out); requires a Tourism Casino Administration Act for enforcement — drafted 2013, not passed; no casino has been built.

Detailed overview

Taiwan at a glance

Taiwan is FSC-led. There is no enacted standalone crypto statute yet — the draft Virtual Asset Service Provider Act went to the Executive Yuan in June 2025 (first regulated stablecoin H2 2026 at the earliest); VASPs operate under mandatory FSC AML registration (September 2025) under the amended Money Laundering Control Act. Payments and e-money are licensed under the Act Governing Electronic Payment Institutions 2015 (amended 2020), with NT$100m / NT$300m / NT$500m capital by activity. Gambling is criminally prohibited under Article 266 of the Criminal Code; only the Public Welfare Lottery and Taiwan Sports Lottery (both CTBC concessions) are authorised.

Crypto regime — AML interim → VASP Act 2026 → stablecoin H2 2026 earliest:

  • No enacted standalone crypto statute; phased framework under construction
  • March 2023 — FSC assumed primary oversight of digital assets
  • September 2023 — FSC published industry guidelines (non-binding)
  • July 2024 — amended Money Laundering Control Act reinforcing AML duties on VASPs; September 2025 — mandatory FSC AML registration for VASPs; criminal liability for non-registration; FSC inspected 4 firms (2023), 6 (2024), 12 (2025)
  • 25 March 2025 — draft VASP Act released for public consultation (to 24 May 2025); 27 June 2025 — submitted to the Executive Yuan; Cabinet review with "high level of consensus" (Dec 2025); anti-fraud Cabinet draft approved early 2026
  • VASP Act key features: licensing of VASPs (incl. foreign branches by approval); minimum capital + operational guarantee bond; fit-and-proper persons; customer-asset segregation; mandatory industry-association membership; trading-platform listing/delisting standards; suspicious-transaction freezes; criminal penalties (operating without approval — up to 5 years + NT$100m); falsification/concealment/manipulation — 3–10 years + up to NT$200m; stablecoin issuance without licence — up to 7 years + up to NT$100m
  • Stablecoin regime (VASP Act Articles 34–35): FSC approval; sufficient reserve assets segregated with domestic financial institutions and audited; initial issuance limited to licensed financial institutions (gradual opening); no interest; issuance/redemption at face value; first regulated stablecoin H2 2026 at the earliest (six-month subordinate-regulation buffer)
  • Bank custody trial — FSC announcement 28 November 2024; applications January–April 2025; at least five financial institutions interested
  • TWEX (Taiwan Mobile, May 2025), MaiCoin, etc. — registered VASPs operating in the interim; ~23 VASPs registered to date
  • Tax: standard income/withholding rules apply; no bespoke crypto tax regime

Payments and e-money regime (FSC; mature):

  • Act Governing Electronic Payment Institutions ("E-Payment Act") — enacted 2015, amended December 2020, effective 1 July 2021 — consolidates electronic-money and payment-institution businesses
  • Three EPI activities: (1) collecting/making payments for real transactions as an agent; (2) receiving stored funds; (3) fund transfer between e-payment accounts
  • Minimum paid-in capital: NT$100m (activity 1 only); NT$300m (activities 1+2); NT$500m (full e-payment incl. fund transfer)
  • Process: company limited by shares; FSC special approval → business-licence application within 6 months → commence operations within 6 months of business-licence issuance; sinking-fund contributions
  • Penalties for operating without approval: up to 5 years' imprisonment + up to NT$100m fine (operator); non-EPI institution receiving stored funds — 3–10 years + NT$20m–NT$500m
  • Cross-border remittance — small-amount subset for foreign workers (since 2021); 4 entities licensed (as at July 2024)
  • Third-Party Payment Service Providers (TPPs) — must register with FSC for AML (post-amended AML Act); criminal liability for non-registration
  • Banking framework — Banking Act + Financial Holding Company Act + Central Bank Act; digital-only banks licensed 2018/2019 (3 approved by 30 July 2019)
  • CBDC — CBC research/prototype ongoing
  • Sandbox — Financial Technology Development and Innovative Experimentation Act (Sandbox Act) — multiple use cases approved (digital banking, remittance via convenience stores, blockchain fund transfers, T+0 mechanisms, etc.)
  • Currency: NTD, managed-floating (CBC)

Gambling regime — Criminal Code prohibition + two state monopolies:

  • Criminal Code of the Republic of China (1935) — all gambling prohibited in public places (the gambling offence is cited around Article 266); "temporary amusement" carve-outs (mahjong at Chinese New Year, non-currency stakes)
  • Public Welfare Lottery — state monopoly under Ministry of Finance concession; current holder CTBC (CTB / China Trust Bank) — fifth term (renewed beyond 2023); ~NT$130bn average annual revenue
  • Taiwan Sports Lottery — under the Sports Lottery Issuance Act 2008; CTBC/TSLC concession; the only legal sports betting; turnover NT$60bn (2022)
  • Offshore Islands Development Act amendment 2009 — permits tourist casinos in Kinmen, Matsu or Penghu if local referendum passes (>50% in favour; OIDA-specific turnout carve-out); Penghu rejected 2009 and 2016; Matsu passed 2012 (57% in favour); Kinmen — no referendum; no Tourism Casino Administration Act has been enacted (drafted 2013; pending Legislative Yuan); no casino built
  • Online gambling — no specific regulation; offshore online generally treated as illegal if "in Taiwan", with a complex jurisprudential carve-out for "overseas online gaming" where (broadly) the activity and result occur outside Taiwan; courts have convicted local support-service providers in some cases; minimum age 18 for legal lottery/sports betting

Last verified: May 2026. Reference rate: USD 1 = NTD 31.65 (1 NTD ≈ USD 0.0316). The New Taiwan dollar is managed-floating under the Central Bank of the Republic of China; re-verify before any filing.

Taiwan is a deliberately phased FSC-led jurisdiction: interim AML registration for VASPs → MiCA-modelled VASP Act (2026) → first regulated stablecoin (H2 2026 earliest); a mature electronic-payments licensing regime (NT$100m/300m/500m EPI capital); and a Criminal-Code-prohibited gambling sector with two state-monopoly lotteries and a long-stalled offshore-island casino route.

Is there a crypto licence in Taiwan?

Not yet a full licence — mandatory AML registration today, with a MiCA-modelled VASP Act in the legislative pipeline. VASPs serving Taiwanese users had to complete FSC AML registration by September 2025 under the amended Money Laundering Control Act; the draft Virtual Asset Service Provider Act (FSC-submitted 27 June 2025) will, when enacted, introduce full FSC licensing, a stablecoin issuer regime (reserve, segregation, audit; initial issuance limited to financial institutions; first issuance H2 2026 at the earliest) and substantial criminal penalties for unlicensed activity.

The legal foundation:

  • No enacted standalone crypto statute yet
  • Money Laundering Control Act (amended July 2024) — mandatory FSC AML registration for VASPs by September 2025; criminal liability for non-registration (fines up to NT$5m; imprisonment up to 2 years)
  • Draft VASP Act (FSC; 25 Mar 2025 consultation; 27 Jun 2025 to Executive Yuan; Cabinet review through 2025–2026; eight subordinate regulations to follow; six-month buffer before in-force)
  • Stablecoin (Articles 34–35): FSC approval (after CBC consultation); reserve assets in domestic FIs; segregation, audits; no interest; issuance/redemption at face value; initial issuance limited to licensed financial institutions
  • Penalties: operating VASP without licence — up to 5 years + NT$100m (≈ USD 3.16m); falsification/manipulation — 3–10 years + NT$200m (≈ USD 6.32m); unlicensed stablecoin issuance — up to 7 years + NT$100m

Structure:

  • Today: FSC AML registration (operative); ~23 VASPs registered (e.g. MaiCoin, TWEX); foreign exchanges serving Taiwanese users are within scope
  • Forthcoming: full VASP Act licensing (company limited by shares; capital + bond; fit-and-proper; customer-asset segregation; mandatory industry-association membership; listing/delisting standards; suspicious-transaction freezes; foreign-branch approval)
  • Bank custody pilot (FSC, January–April 2025 applications) — institutional bank-regulated digital-asset custody

Operational reality:

  • A high-quality, phased, MiCA-modelled trajectory — but the full licence is not yet in force; design for AML-now and VASP-Act-later, with a six-month buffer post-subordinate-regulations
  • Bank rails are restricted in practice (TWD on/off-ramping via registered VASPs); USDT/USDC are dominant in practice but the stablecoin regime will reshape the market
  • Independent Taiwanese legal counsel and direct FSC verification (current AML status; pending VASP-Act text) are essential

Payments & E-money (FSC — Act Governing Electronic Payment Institutions)

Best for electronic-payment, stored-value, fund-transfer and cross-border-remittance operators (incl. small-amount foreign-worker remittance) prepared to license with the FSC.

What it is: An FSC specialised licence under the Act Governing Electronic Payment Institutions (2015; amended Dec 2020; effective 1 July 2021); plus AML registration for TPPs below the EPI threshold and banking under the Banking Act.

Who it suits: Payment institutions, e-money/stored-value issuers, fund-transfer operators (incl. foreign-worker remittance under the cross-border-small-amount subset) and big-tech/fintech entrants subject to FSC approval; banks/Chunghwa Post operating EPI businesses as additional activities; sandbox participants.

Covers: (1) Collecting/making payments for real transactions as an agent; (2) receiving stored funds; (3) fund transfer between e-payment accounts; plus FSC-approved ancillary/derivative businesses (merchant integration, terminal sharing, e-Uniform Invoice services, vouchers, loyalty integration, information-system planning/consultancy).

Operational requirement: Company limited by shares; minimum paid-in capital NT$100m / NT$300m / NT$500m by activity scope; FSC special approval → business-licence application within 6 months → commence within 6 months; AML/CFT and consumer-protection; sinking-fund contributions; CBC consultation for foreign-branch establishment; data-localisation/PDPA compliance; cross-border remittance approval and per-transaction/account caps as set by FSC after CBC consultation.

Headline figures

  • Primary instrument: Act Governing Electronic Payment Institutions (2015; amended Dec 2020; effective 1 July 2021)
  • Regulator: FSC; banking under Banking Act + Central Bank Act + Financial Holding Company Act; AML under MLCA (MoJ competent authority)
  • Min capital: NT$100m (≈ USD 3.16m) / NT$300m (≈ USD 9.48m) / NT$500m (≈ USD 15.80m)
  • TPP AML registration mandatory (criminal liability for failure)
  • Digital-only banks since 2018/2019 (3 licensed)
  • Currency: NTD, managed-floating

Is there a gambling licence in Taiwan?

Mostly no. Gambling is criminally prohibited under the Criminal Code (Article 266 — the gambling offence) with two state-monopoly exceptions (Public Welfare Lottery and Taiwan Sports Lottery, both operated under CTBC concessions; the latter under the Sports Lottery Issuance Act 2008). The Offshore Islands Development Act amendment of 2009 permits casinos in Kinmen/Matsu/Penghu by referendum, but no Tourism Casino Administration Act has been passed and no casino has been built (Penghu rejected 2009/2016; Matsu passed 2012). Mahjong/cards for non-currency stakes and certain temporary amusements are exempt.

The legal foundation:

  • Criminal Code of the Republic of China (1935) — public gambling and provision of gambling venues criminalised; offence commonly cited around Article 266; "temporary amusement" carve-outs
  • Public Welfare Lottery — Ministry of Finance concession; CTBC holder (fifth term); ~NT$130bn average annual revenue
  • Taiwan Sports Lottery — Sports Lottery Issuance Act 2008; CTBC/TSLC concession; only legal sports betting; turnover NT$60bn (2022)
  • Offshore Islands Development Act amendment of 2009 — permits casinos in Kinmen/Matsu/Penghu if a local referendum passes (>50% in favour; OIDA turnout carve-out); Penghu rejected 2009 and 2016; Matsu passed 2012; Kinmen — no referendum; no Tourism Casino Administration Act enacted (drafted 2013; pending Legislative Yuan); no casino built
  • Online gambling — no specific regulation; offshore-online jurisdictional carve-out exists in case law but unstable; local support-service providers occasionally convicted

Structure:

  • Lotteries (Public Welfare + Sports): CTBC/TSLC state monopolies; not licensable to private operators
  • Offshore-island tourist casinos: statutorily authorised in principle; practically blocked absent the Tourism Casino Administration Act and an active referendum mandate
  • All other gambling: criminally prohibited; mahjong/cards for non-currency stakes and "temporary amusement" exempt
  • Minimum age 18 for legal lottery/sports-lottery participation
  • Online: VPN access common; jurisprudence on overseas-online support services in flux

Gambling — Public Welfare Lottery (CTBC) / Taiwan Sports Lottery (CTBC/TSLC) / Offshore-Island Casino (pending)

Best for engagement with the CTBC/TSLC state monopolies and (long-term) the offshore-island casino route if the Tourism Casino Administration Act is enacted; not for private operators.

What it is: State-monopoly concessions (Public Welfare Lottery; Taiwan Sports Lottery) and a statutorily authorised but practically blocked offshore-island casino route (Kinmen/Matsu/Penghu).

Who it suits: No private operator for lottery/sports betting (closed monopolies); potentially major integrated-resort operators pursuing the Matsu casino route in the long term (subject to Tourism Casino Administration Act enactment and continued referendum mandate); suppliers/vendors to the existing CTBC/TSLC monopolies.

Covers: Public Welfare Lottery (lottery); Taiwan Sports Lottery (sports betting); potentially future offshore-island casinos; not private online casino/sportsbook/poker — criminally prohibited.

Operational requirement: Not applicable for private operators outside CTBC/TSLC procurement; for any future casino, Ministry-of-Transportation-and-Communications-led licensing under the (unpassed) Tourism Casino Administration Act; AML/CFT, integrity, capital and host-island infrastructure requirements TBD.

Headline figures

  • Primary instruments: Criminal Code (Article 266); Sports Lottery Issuance Act 2008; Offshore Islands Development Act (2009 amendment, Article 10-2); Tourism Casino Administration Act draft 2013 (not enacted)
  • State monopolies: CTBC (Public Welfare Lottery — 5th term; ~NT$130bn avg annual revenue); CTBC/TSLC (Sports Lottery — NT$60bn 2022 turnover)
  • Referendum status: Penghu rejected 2009/2016; Matsu passed 2012 (57%); Kinmen — none
  • Min age: 18; gross gaming taxation framework (16% GGR + 0.5% public-benefit levy + local/national taxes 7–9% + 17% CIT) discussed in 2013 draft Tourism Casino Administration Act — not in force

Costs and timelines at a glance

  • Crypto: AML registration mandatory by Sept 2025 (MLCA amended Jul 2024; fines up to NT$5m / 2 yrs imprisonment); draft VASP Act (FSC, 25 Mar 2025 consultation → 27 Jun 2025 to Executive Yuan; eight subordinate regs; 6-month buffer; first regulated stablecoin H2 2026 earliest); penalties — operating without licence up to 5 yrs + NT$100m; falsification/manipulation 3–10 yrs + NT$200m; unlicensed stablecoin issuance up to 7 yrs + NT$100m; bank custody pilot (FSC, Jan–Apr 2025)
  • Payments primary instrument: Act Governing Electronic Payment Institutions (2015; amended Dec 2020; effective 1 Jul 2021); min capital NT$100m (≈ USD 3.16m) / NT$300m (≈ USD 9.48m) / NT$500m (≈ USD 15.80m); FSC special approval → business licence (6 mo) → commence (6 mo); TPP AML registration mandatory; banks/Chunghwa Post may operate EPI as additional activity; cross-border-remittance subset for foreign workers (4 licensees as at Jul 2024); digital-only banks since 2018/2019
  • Banking framework: Banking Act + Financial Holding Company Act + Central Bank Act; FSC + CBC + Central Deposit Insurance Corporation; sandbox under the Sandbox Act
  • Gambling: Criminal Code prohibition (Art. 266); state monopolies — Public Welfare Lottery (CTBC, MoF concession) + Taiwan Sports Lottery (CTBC/TSLC, Sports Lottery Issuance Act 2008); Offshore Islands Development Act 2009 — Matsu 2012 passed; Penghu 2009/2016 rejected; Kinmen — none; no Tourism Casino Administration Act; no casino built; min age 18
  • Currency: NTD, managed-floating (CBC)
  • FX: USD 1 = NTD 31.65 (1 NTD ≈ USD 0.0316)

Who Taiwan suits and who it does not

Suitable for

  • Established crypto exchanges, brokers and (forthcoming) stablecoin issuers prepared to complete FSC AML registration today and obtain a full VASP Act licence when enacted (incl. minimum capital, operational guarantee bonds, fit-and-proper, customer-asset segregation, mandatory industry-association membership)
  • Domestic financial institutions seeking FSC bank-custody-trial participation or — once the VASP Act is in force — initial-phase stablecoin issuance under FSC + CBC oversight
  • Electronic-payment institutions, stored-value/e-money operators and cross-border-remittance providers (incl. foreign-worker remittance) able to meet NT$100m / NT$300m / NT$500m capital and FSC approval timelines, and TPPs willing to complete FSC AML registration
  • Banks/digital-only banks and financial holding companies pursuing licensed expansion under the Banking Act + Financial Holding Company Act + Central Bank Act and sandbox experimentation
  • Suppliers/vendors to the CTBC Public Welfare Lottery and CTBC/TSLC Taiwan Sports Lottery state-monopoly procurement

Not suitable for

  • Operators expecting a today, light-touch crypto licence — Taiwan is in transition; AML registration is mandatory and the full VASP Act is forthcoming, with substantial criminal penalties for unlicensed activity (up to 7 years + NT$100m for unlicensed stablecoin issuance)
  • Crypto businesses relying on retail TWD banking integration without FSC AML registration — banks restrict crypto-linked flows
  • Private online-gambling, sports-betting or lottery operators — Taiwan Sports Lottery and Public Welfare Lottery are exclusive CTBC/TSLC monopolies; private operators cannot serve Taiwanese users without engaging the Criminal Code
  • Integrated-resort/casino operators planning near-term openings in Taiwan — the Tourism Casino Administration Act has not been enacted; no casino has been built despite the Matsu 2012 referendum; recent Penghu referenda (2009, 2016) rejected casinos
  • Businesses unable to meet EPI minimum capital (up to NT$500m / USD 15.80m), FSC approval timelines, or CBC consultation requirements for cross-border/foreign-branch activities

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