Taiwan Mobile Ventures into Crypto with VASP Registration

Taiwan Mobile, Taiwan's second-largest telecom operator, has become the country's 26th virtual asset service provider (VASP), positioning itself to potentially launch a cryptocurrency exchange.

This move marks a significant step in integrating digital assets into mainstream services.

Recently listed on the Financial Supervisory Commission (FSC) website, Taiwan Mobile’s application was led by its general manager, Zhichen Lin. This registration allows the company to join the VASP Association, signaling a major advancement in digital asset adoption.

The company has expressed interest in collaborating with local crypto platforms and investing in crypto businesses, potentially leading to the opening of a crypto exchange to meet growing demand.

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In June, Taiwan established the Taiwan Virtual Asset Service Provider Association to regulate its cryptocurrency sector, aiming to enhance oversight, combat fraud, and ensure AML compliance.

The FSC plans to submit revised digital asset rules in September and has been assessing public demand for Bitcoin ETFs, potentially allowing Taiwanese investors to buy overseas Bitcoin ETFs within regulatory frameworks.

Alexander Stefanov