Taiwan Enacts First Crypto Asset Service Law
On July 2, 2026, Taiwan officially passed its first Virtual Asset Service Provider (VASP) Act, requiring all crypto asset service providers to obtain a license from the Financial Supervisory Commission (FSC) before offering services. The law imposes strict Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) obligations, with penalties up to NT$50 million (approx. USD 1.6 million) for violations. This shifts Taiwan from a self-regulatory model to formal legislation, providing a clear legal framework for domestic and international crypto firms operating in the region.
Binance Enters Philippines Through Regulatory Sandbox
Binance, the world's largest cryptocurrency exchange, announced it has received preliminary approval to enter the Philippine market via the Securities and Exchange Commission's (SEC) regulatory sandbox. The sandbox allows Binance to test its digital asset trading services for a one-year observation period under real-time regulatory supervision. The Philippines is one of Southeast Asia's fastest-growing crypto markets, and Binance's entry is expected to spur compliant competition and encourage other exchanges to seek similar approvals.
Metaplanet Adds 2,823 Bitcoin
Japanese listed company Metaplanet disclosed the acquisition of 2,823 Bitcoin on July 2, 2026, increasing its total treasury holdings. Based on BTC's price of approximately $72,000 on that day, the purchase exceeded $200 million. Metaplanet is one of Asia's most prominent corporate Bitcoin holders, and its continuous accumulation strategy signals institutional confidence in digital assets. The company now holds over 25,000 BTC, ranking among the top publicly traded BTC holders in Asia.