Taiwan Enacts Comprehensive Crypto Law with Licensing and Stablecoin Provisions
Taiwan's Legislative Yuan passed the Virtual Asset Service Act on June 30, 2026, establishing a licensing regime for virtual asset service providers and setting rules for stablecoin issuance, according to Decrypt. This legislation mandates oversight by the Financial Supervisory Commission, marking a significant shift from previous registration requirements to full operational supervision.
What Happened
The Legislative Yuan of Taiwan approved the Virtual Asset Service Act in a critical vote on June 30, 2026. The new law requires all virtual asset service providers to obtain licenses from the Financial Supervisory Commission (FSC) before offering their services. Furthermore, stablecoin issuers must secure consent from the central bank and approval from the FSC, along with full reserve requirements in trust. Violations can lead to severe penalties, including up to seven years in prison for operating without a license.
Why It Matters
This legislation represents one of Asia's most comprehensive frameworks for regulating cryptocurrencies, transitioning the regulatory environment from minimal oversight to stringent controls. According to the FSC, the act enhances the regulatory stance on anti-money laundering (AML) procedures by shifting from a mere registration system to significant operational oversight of crypto firms.
“The law moves Taiwan from light-touch registration to full financial supervision of the sector,” highlighting its importance in stabilizing and regulating the growing virtual asset market.
What to Watch
Following the President's anticipated promulgation of the law, the cabinet will determine an effective start date for the new regulations. Companies currently registered under the AML framework will have a transition period of 12 months to apply for the new licenses, with a further 21 months to secure full approval or face possible operational bans.
As these regulations unfold, monitoring the responses from industry players in Taiwan, as well as similar regulatory movements in the region, will be crucial to understanding the future landscape of cryptocurrency regulation in Asia.
Summary based on original reporting by Decrypt Agent at Decrypt, originally published Jul 1, 2026. SolanaWire does not republish source content.
Crédit Agricole Launches Euro-Pegged Stablecoin EURXT
Crédit Agricole has launched the EURO eXchange Token (EURXT), a euro-pegged stablecoin that complies with the EU’s Markets in Crypto-Assets (MiCA) framework, according to CoinDesk. The stablecoin was introduced with an initial circulation of 20 million tokens backed 1:1 by euro reserves at Caceis Bank, competing with existing tokens from Circle and Société Générale.
2 minutes ago·CoinDesk·Reported by Francisco Rodrigues
Ethereum Institutional Nonprofit Launches for Enterprise Adoption
Ethereum Institutional, an independent nonprofit, aims to foster institutional adoption of Ethereum and its ecosystem, as reported by CoinDesk. Founded by David Walsh and others, the organization is positioned as a neutral contact for banks and asset managers exploring blockchain applications.
2 minutes ago·CoinDesk·Reported by Margaux Nijkerk
Citi Lowers Bitcoin and Ether Price Targets Amid ETF Demand Decline
Citi has revised its 12-month price targets for bitcoin and ether, now forecasting $82,000 for bitcoin and $2,240 for ether. This change follows the bank's decision to expect zero net inflows for exchange-traded funds (ETFs) amid stalled U.S. crypto legislation and weak investor interest, according to CoinDesk.
2 minutes ago·CoinDesk·Reported by Will Canny
Edel Finance Exploit Inflates Tokenized Google Stock Value by 7,700%
Edel Finance's lending protocol came under attack, leading to a 7,700% inflation in the value of tokenized Google shares. The incident left approximately $403,000 in bad debt, as reported by CoinDesk.
17 minutes ago·CoinDesk·Reported by Shaurya Malwa
Trending this week
Analysts Anticipate Market Volatility in Bitcoin and Stocks for Second Half of 2026
Analysts expect macroeconomic factors, AI trends, and changes in market structure to create volatility in both Bitcoin and stock markets over the latter half of 2026, according to CoinDesk. They highlight a widening divide in the technology sector impacted by AI and suggest Bitcoin's historical trading patterns remain relevant amid current market dynamics.
47 minutes ago·CoinDesk·Reported by Helene Braun
World Launches as Onchain Prediction Market on Solana
The prediction market platform World has launched on Solana, available through Phantom wallet and at world.xyz, according to CoinDesk. Utilizing Chainlink for market data, it allows users to trade contracts linked to various events, including crypto prices and the 2026 FIFA World Cup.
47 minutes ago·CoinDesk·Reported by Francisco Rodrigues
EU Begins Revision of MiCA Crypto Regulation Post July 1 Deadline
On July 1, 2026, the European Union's Markets in Crypto-Assets (MiCA) regulation came into full effect, prompting the European Commission to consider necessary updates. The review signals attention to emerging trends like stablecoins and the tokenization of assets, as MiCA was initially focused on exchanges and traditional crypto-asset service providers, according to CoinDesk.
1 hour ago·CoinDesk·Reported by Jamie Crawley
Open USD Launches Amid Major Backing, Challenging USDC and USDT
Open USD, a new stablecoin launched by Open Standard, aims to compete with established players like USDC and USDT. Backed by over 140 prominent businesses including Visa and Google, the coin allows businesses to mint at no cost and claims to redistribute earnings more favorably than existing models. This report comes from Decrypt.
1 hour ago·Decrypt·Reported by Tyler Warner
