On August 4, 2026, Taiwan's Financial Supervisory Commission (FSC) published draft amendments that put the FATF Travel Rule into practice for virtual asset service providers (VASPs). The rule has been in Taiwan's regulations since 2021 but was never enforced. The new draft follows the revised FATF Recommendation 16 and rolls the rule out in two phases.
Here’s What VASPs Need to Know
- Every transfer is covered. There is no minimum amount.
- Transfers above NT$30,000 (~US$1,000) need more data. That means date of birth and address for a person, or registration number and registered address for a company.
- Receiving VASPs must verify the recipient. For transfers above NT$30,000, check the details you receive against your own customer records.
- Rollout: domestic transfers from about October 2026, and cross-border transfers by the end of 2027.
Why This Matters to Your Team
- Your systems must send Travel Rule data with every withdrawal.
- Customer records need complete details for both people and companies.
- Inbound transfers need a defined matching process and a plan for mismatches.
- Cross-border transfers will require support for several Travel Rule protocols.
When Do VASPs Need to Comply?
- Now: Comments on the draft are open for 30 days after it appears in the Executive Yuan Gazette.
- October 2026: Transfers between domestic Taiwanese VASPs are covered (Phase 1).
- End of 2027: Cross-border transfers between Taiwanese and overseas VASPs are covered (Phase 2).
How TRISA Envoy Helps
TRISA Envoy is an open-source Travel Rule solution that sends compliance data directly between VASPs (peer-to-peer). Customer data is never passed through or stored by a central hub and remains under full control of your organization. The IVMS101 data for each transfer is sealed with envelope encryption, which encrypts the message itself, and sent over mutually authenticated TLS (mTLS) connections, where both sides prove their identity. Counterparties are verified through certificates issued by the TRISA Global Directory, so only the intended recipient can read the data. Envoy supports both the TRISA and TRP protocols, with a secure email fallback, so you can reach domestic peers in Phase 1 and overseas VASPs in Phase 2. It is free to host yourself, which keeps customer data entirely on your own infrastructure, or you can use the managed service for $375 a month, which can be set up for your security requirements. Envoy is open, interoperable and affordable for VASPs of any size.