Taiwan Passes Sweeping Crypto Law With Licensing, Stablecoin Rules

60-second summary

Taiwan's Financial Supervisory Commission (FSC) is now overseeing virtual asset firms for the first time, marking a significant shift in regulatory oversight. The new law also establishes reserve-and-trust rules for stablecoins, requiring issuers to hold a minimum of 100% reserve backing. This move aims to increase investor protection and stability in the market.