Taiwan Passes First Crypto Asset Service Act, Mandates VASP Licensing
On July 2, 2026, Taiwan's Legislative Yuan passed the Crypto Asset Service Act, the region's first comprehensive law for the crypto industry. The act requires all Virtual Asset Service Providers (VASPs) to obtain a license from the competent authority and undergo compliance audits. Unlicensed operations or violations face severe penalties, including substantial fines and criminal liability. This move aligns Taiwan's crypto framework with FATF standards, pushing the industry into formal financial regulation.
Analysts believe the law will accelerate the consolidation of Taiwan's crypto sector, benefiting compliant exchanges and custodians. It also provides legal clarity for future products such as crypto ETFs and stablecoins.
Binance Enters Philippine Market via SEC Regulatory Sandbox
On the same day, Binance announced it had secured temporary approval from the Philippine Securities and Exchange Commission (SEC) to operate within the country's regulatory sandbox. This marks Binance's first regulated entry into the Philippines, where the central bank had previously warned citizens against using unregistered platforms. Under the sandbox terms, Binance must implement AML systems, segregate client funds, and undergo periodic audits. Successful completion may lead to a full operating license.
The Philippines is one of Southeast Asia's highest crypto adoption markets, driven by remittances and P2P trading. Binance's compliance entry will intensify competition with local players like Coins.ph.
Metaplanet Adds 2,823 BTC, Total Holdings Reach Record 18,924 BTC
Japanese listed company Metaplanet revealed on July 2 that it had purchased 2,823 Bitcoin at an average price of approximately $74,500, funded by a ~¥30 billion ($210 million) zero-coupon bond issuance. The purchase brings Metaplanet's total holdings to 18,924 BTC, making it one of the largest corporate bitcoin holders in Asia. The firm reiterated its strategy of using Bitcoin as a long-term reserve asset, aiming to reach 50,000 BTC by 2028.
Metaplanet's continued accumulation is seen as a hedge against yen depreciation and low interest rates in Japan, reflecting growing institutional acceptance of Bitcoin as a treasury asset among Asian corporations.