Taiwan's Financial Supervisory Commission plans to promote virtual asset custody services, and three banks have expressed interest

ChainCatcher news, according to PCHOME, Taiwan's "Financial Supervisory Commission" plans to launch a pilot program for virtual asset custody services, with three banks already expressing interest in applying. It is reported that the service may start as early as the first quarter of 2025, targeting virtual asset exchanges and professional institutional investors. Hu Zehua, Director of the Comprehensive Planning Department of the Financial Supervisory Commission, stated that applying institutions need to provide detailed descriptions of the types of virtual assets to be custodied, such as Bitcoin, Ethereum, etc.

The Financial Supervisory Commission will pay special attention to the security of the business and the implementation of anti-money laundering measures. This move aims to promote financial innovation and lay the foundation for the upcoming special law on virtual assets. It is expected that by the end of this year, the Financial Supervisory Commission will introduce a draft of the relevant special law to provide a clear development framework for the virtual asset industry.