Taiwan's Virtual Asset Services Act Passes Third Reading, Stablecoin Rules Due Next Quarter

Taiwan Financial Supervisory Commission Chair Peng Jinlong said the Virtual Asset Services Act passed its third reading on June 30 this year, and the commission is drafting nine subsidiary rules covering stablecoin-related regulations. According to ChainCatcher, the rules are expected to be announced and implemented as early as the first quarter of next year. Peng said financial markets in Taiwan and globally are moving toward parallel development across traditional finance, digital finance, and blockchain finance as AI and blockchain technologies advance. He added that rising demand for cross-border payments, trade finance, and cash management in the semiconductor supply chain has increased attention on stablecoins, blockchain, and fintech as infrastructure for cross-border capital flows.