Taiwan Passes First Crypto Asset Service Law, Mandates VASP Licensing
On July 2, 2026, Taiwan's legislature passed the first dedicated crypto asset service law, officially titled the "Crypto Asset Service Act." The law requires all virtual asset service providers (VASPs) to obtain a license from the competent authority before operating, and imposes severe penalties for non-compliance, including hefty fines and potential criminal liability. This marks a significant shift from Taiwan's previous self-regulatory approach to a formal legal framework, aligning with global trends in investor protection and anti-money laundering. Industry observers note that the new regime may serve as a foundation for further regulations covering stablecoins and decentralized finance (DeFi). The law also mandates reporting obligations for suspicious transactions and requires VASPs to segregate customer assets.
Binance Enters Philippines via Regulatory Sandbox
Also on July 2, Binance announced that it has been granted temporary authorization to operate in the Philippines through the central bank (Bangko Sentral ng Pilipinas) regulatory sandbox program. This allows the exchange to offer crypto trading services, including spot trading and fiat on-ramps, to Filipino users under a supervised environment. The Philippines is one of Southeast Asia's fastest-growing crypto markets, driven by high remittance volumes and a large young, tech-savvy population. Binance's entry comes after previous regulatory warnings for operating without a license. The sandbox approval represents a crucial step in Binance's compliance strategy across Asia, following similar moves in Dubai, France, and Japan.
Metaplanet Adds 2,823 BTC, Boosting Total Holdings to Record High
Japanese publicly listed company Metaplanet disclosed on July 2 that it had purchased an additional 2,823 bitcoins, bringing its total holdings to a new record. The company, which has been accumulating Bitcoin since 2024 as a primary treasury reserve asset, now ranks among the largest corporate Bitcoin holders in Asia. The latest acquisition comes amid Bitcoin's consolidation around the $60,000 level, signaling long-term conviction despite market volatility. Metaplanet's strategy mirrors that of MicroStrategy, viewing Bitcoin as a hedge against yen depreciation and a tool for corporate treasury diversification. The company has funded purchases through a combination of convertible bond issuances and operating cash flow. Analysts highlight that Metaplanet's continued accumulation adds to the growing trend of Asian corporate adoption of Bitcoin as a reserve asset.