Taiwan’s Financial Supervisory Commission (FSC) has announced plans to pilot crypto custody services in 2025. The FSC stated that “applications will be accepted starting the first quarter of 2025,” and that three of Taiwan’s local banks have expressed interest in taking part in the crypto custody trial. The announcement comes as part of the FSC's efforts to regulate the cryptocurrency industry in Taiwan. In February, the FSC introduced new anti-money laundering rules for crypto service providers. The FSC’s move to pilot crypto custody services is seen as a positive step for the development of the cryptocurrency industry in Taiwan. It will provide a safe and secure way for investors to store their digital assets.