Taiwan Unleashes Sweeping Crypto Law With 7-Year Prison Terms for Rule Breakers
Key Takeaways Taiwan passed the Virtual Asset Service Act on June 30, making the FSC the sole crypto regulator. Untrusted stablecoin issuers or unlicensed VASPs face up to 7 years in prison and $3.1M fines under the law. The FSC must draft roughly 9 pieces of secondary legislation to fully launch the rules by early…