According to ChainCatcher, Taiwan's Financial Supervisory Commission released a draft "Virtual Asset Services Law" yesterday, which will undergo a 60-day public consultation.

The draft primarily covers establishing a licensing system for virtual asset service providers, regulating their operational management requirements, creating a stablecoin issuance management framework, setting anti-fraud and market manipulation regulations, and formulating legal penalty provisions.

The public consultation period is 60 days after the announcement, with the draft expected to be submitted to the Executive Yuan for review by the end of June 2025.