Taiwan’s FSC will initiate trials for virtual asset custody in the first quarter of 2025.
Three banks are set to participate, focusing on cryptocurrencies like Bitcoin, Ethereum, and Dogecoin.
The trial will prioritize security and compliance to regulate the growing digital asset industry.
Taiwan’s Financial Supervisory Commission (FSC) will launch its first virtual asset custody trials in early 2025, with three major banks already interested. The trial aims to boost financial innovation and ensure the secure management of digital assets.
The FSC is the country’s regulator for the virtual assets industry and is responsible for formulating clear compliance policies for its development. The commission plans to allow financial institutions to initiate thematic businesses.
The virtual asset custody trials, aimed at boosting financial innovation, will begin in the first quarter of 2025. According to a press conference earlier today by Hu Zehua, the director of the Comprehensive Planning Division of the FSC, participating financial institutions must specify the types of virtual assets they will be managing.
This initiative will enable participating banks to…
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