I just noticed that Taiwan’s cryptocurrency regulation has finally made new progress. Last week, the Legislative Yuan’s Finance Committee held a meeting, where several legislators put the Financial Supervisory Commission through tough questioning on issues such as Bitcoin ETFs and RWA tokenization, and FSC Chair Peng Jinlong also, for the first time, provided a clear policy timeline.

First, let’s talk about the most closely watched Bitcoin ETF segment. Legislator Ge Rujun said that digital assets worldwide are accelerating their move toward Taiwan, and international financial giants such as Morgan Stanley have also entered the Bitcoin spot ETF market—this has already become an irreversible trend. He even submitted to the Financial Supervisory Commission a research report drafted by staff members of U.S. senators, which analyzes in detail the feasibility of Bitcoin as a reserve asset.

In his response, Peng Jinlong admitted that the Securities Association has already submitted an implementation results report, and that intensive discussions are underway within the Commission. He pledged to conduct rolling reviews on a six-month basis, and expects to publicly explain the feasibility of Bitcoin ETFs before the end of June 2026. This suggests that Taiwan may really have to take action on cryptocurrency ETFs.

Beyond ETFs, RWA tokenization also became a highlight of this meeting. Legislator Zhong Jabin noted that the U.S. DTCC has been authorized by the SEC to plan the tokenization of $114 trillion worth of assets, which is a shock to global financial markets. The Financial Supervisory Commission’s preliminary plan is to prioritize the tokenization of bonds and gold, because these types of assets are easier to value and relatively less difficult to implement.

Interestingly, Legislator Lin Chuyin raised a question worth paying attention to. Taiwan’s local VASP operators have shrunk from 26 at their peak to 8. She is concerned that if the capital-amount thresholds set by future special legislation are too high, small startup founders won’t be able to survive—leaving only large financial institutions. Peng Jinlong responded that he would draw on international standards, adopt a risk-based approach, and ensure the rules of the game are made transparent.

Overall, Taiwan is indeed accelerating the rollout of virtual asset regulation. From Bitcoin ETFs to RWA tokenization, and then to VASP special legislation, the level of attention on the policy front has clearly increased. Ge Rujun also emphasized that countries around the world are competing to become the hub for digital asset management, and if Taiwan can complete its legal framework a step earlier, it will help attract global capital to remain.

The Financial Supervisory Commission’s commitments this time appear quite concrete—especially the timetable for explaining cryptocurrency ETFs by the end of June. Over the coming months, more regulatory details are likely to be released, so it’s worth keeping a close watch.