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Taiwan Mobile Secures VASP License, Expands into Crypto Market

Jul 6, 2024

Taiwan Mobile Secures VASP License, Expands into Crypto Market
Taiwan Mobile Secures VASP License, Expands into Crypto Market
Taiwan Mobile Secures VASP License, Expands into Crypto Market

Taiwan Mobile, Taiwan's second-largest telecommunications provider, has obtained a virtual asset service provider (VASP) licence from the country's Financial Supervisory Commission (FSC), marking its entry into the cryptocurrency market. Operating under the name Fusheng Digital, which it owns, Taiwan Mobile becomes the 26th company licensed as a VASP in Taiwan. The company had been exploring opportunities in the crypto sector for over a year and is now eligible to join the Taiwan Virtual Asset Service Provider Association. This move is expected to diversify Taiwan's regulated domestic crypto industry, which has seen stricter regulations implemented by the FSC since assuming oversight in mid-2023.