You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/taiwan-initiates-trials-for-crypto-asset-custody-services-in-local-banks/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Taiwan Initiates Trials for Crypto Asset Custody Services in Local Banks</a> 
The Financial Supervisory Commission (FSC) of Taiwan plans to launch a trial period for <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-price-target-at-35000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> asset custody services in local banks during the first quarter of 2025. This initiative aims to ensure the secure management of digital assets.
<h2 id="interest-in-the-trial-program">Interest in the Trial Program</h2>
So far, three private banks have expressed their interest in the program. The FSC announced that it would evaluate applications within a 15-day period before accepting them.
Firms applying for the trial must disclose the types of crypto assets they intend to custody and their target customer base. This target audience may include individual investors, professional investors, or <a href="https://en.coin-turk.com/digital-asset-investment-trends/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> exchange platforms.
<h2 id="cybersecurity-and-anti-money-laundering-measures">Cybersecurity and Anti-Money Laundering Measures</h2>
The FSC places special emphasis on the cybersecurity practices of firms offering crypto custody services. It also requires these firms to combat money laundering by preventing digital assets sourced from illegal funds.
<blockquote>
 “We pay special attention to firms’ cybersecurity practices and work to block crypto assets from illegal funds.” – Hu Zehua, Director of the FSC’s Comprehensive Planning Division.
</blockquote>
Last week, the FSC amended its policies mandating that all crypto-based companies register with the regulator by September 2025. Failure to do so may result in up to two years of imprisonment or a fine of $156,000. At the end of September, the FSC also announced that it allows professional investors to invest in foreign crypto exchange-traded funds (ETFs).
These regulations aim to make Taiwan’s digital asset market safer and more orderly.
If the trial process is successful, a broader audience is expected to use crypto assets securely. The services offered by banks in this area could enhance the adoption of digital assets.
These steps support Taiwan’s advancement in financial technologies while ensuring that investors can operate in a secure environment.
The post <a href="https://en.coin-turk.com/taiwan-initiates-trials-for-crypto-asset-custody-services-in-local-banks/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Taiwan Initiates Trials for Crypto Asset Custody Services in Local Banks</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Taiwan Initiates Trials for Crypto Asset Custody Services in Local Banks

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