Taiwan’s financial regulators are getting ready to let local banks try out holding crypto for their customers. This pilot program is set to start in the first quarter of 2025.
Banks Are On Board
Three banks have already shown interest in participating. Before the program kicks off, the Financial Supervisory Commission (FSC) will be open to feedback from the public for 15 days.
Strict Rules for Crypto Custody
Companies applying for the trial must be transparent about the specific cryptocurrencies they’ll be holding and who they’ll be serving, whether it’s regular investors, professional traders, or crypto exchanges. The FSC is particularly focused on cybersecurity and preventing money laundering.
More Crypto Regulations in Taiwan
This trial comes after the FSC made some big changes to crypto regulations. Last week, they announced that all crypto companies need to register with them by September 2025 or face serious penalties. They also recently opened the door for professional investors to buy crypto exchange-traded funds (ETFs) from overseas.
It looks like Taiwan is taking steps to create a more regulated and secure environment for crypto in the country.
