Taiwan Financial Services Commission resumes accepting applications for its virtual asset custody pilot after four financial institutions apply

The Taiwan Financial Services Commission (FSC) has published an update on its Virtual Asset Custody Services Thematic Pilot Program, confirming that four financial institutions had submitted applications by end-April 2025 and that it will continue accepting further applications from 15 June 2025. The pilot was launched on 28 November 2024, with explanatory materials and an FAQ, and financial institutions were initially invited to apply from 1 January to 30 April 2025. The four applications already received are under review and will be prioritised. The FSC decided to reopen intake given that virtual asset custody is an emerging business and institutions differ in scale, strategy, technology and staff training readiness, and it will provide consultation and advisory support to interested applicants. The programme is intended to help the FSC assess market demand and institutional business development to inform adjustments to relevant mechanisms and the regulatory framework.