Today (8th), the "2025 Virtual Assets Future - Derivative Products Regulatory Policy Forum" held in Taipei pushed Taiwan's virtual asset regulation to its most challenging topic: derivative products. Zhang Senxiong, Secretary-General of the Virtual Currency Business Association, and Legislators Ge Ruzheng and Huang Shanshan pointed out in the first half of the forum that the draft special law is about to enter the Legislative Yuan, and whether derivative virtual asset products can be incorporated into the regulations will determine Taiwan's position in the global financial technology landscape.
Regulatory Fourth Stage: Derivatives
Zhang Senxiong noted that Taiwan has gone through money laundering prevention law integration, industry self-regulation, and registration systems, and is now entering the special law era. He warned that if the articles lack a "developmental" perspective, the industry might be forced into a narrow path. Using "finance as a lighthouse" as a metaphor for legislative roles, he called for balancing risk control and market vitality.
Reviewing the Financial Supervisory Commission's regulatory path, Zhang Senxiong defined derivatives as the fourth stage of regulation, progressing from money laundering prevention integration to industry self-regulation, money laundering prevention registration system, and now to derivative products - the "deep water zone".
He emphasized that future special laws should leave room for industry innovation, not just focus on control, to prevent businesses from relocating. He encouraged the industry and regulatory agencies to move forward together with the phrase "with spring breeze and swift hooves, marching towards a broad road".
Legislator Ge Ruzheng: Remove Stigma, Allow Qualified Investors to Enter the Market
Ge Ruzheng affirmed the Financial Supervisory Commission's increasingly open attitude and strongly called for "destigmatization". He pointed out that the Executive Yuan has approved six financial holding companies or banks to pilot crypto business, and offshore Bitcoin ETF entrusted investment has been officially opened. He stated directly:
"Investing in offshore Bitcoin ETF through entrustment can directly reduce fraud space."
Next, he hopes the Financial Supervisory Commission will allow local businesses to issue Bitcoin ETFs and open bank crypto asset custody, forming a complete ecosystem.
Legislator Huang Shanshan: Without Derivative Products, Offshore Operators Will Not Settle
Huang Shanshan used Taipei City Government's experience of introducing blockchain to manage medical records and insurance claims to prove that financial technology can touch everyday scenarios. She emphasized that the current money laundering prevention law only sets thresholds for businesses without allowing derivative products, making it difficult for crypto businesses to maintain normal profitability.
Huang Shanshan stated directly:
"If the special law only restricts spot trading and does not permit derivative products, businesses will not choose Taiwan."
She believes that if the special law lacks derivative product clauses, Taiwan will be at a disadvantage in regional competition. Additionally, she hopes the Executive Yuan will submit the virtual currency trader special law draft to the Legislative Yuan before September.
Neighboring Asian Markets Have Already Taken the Lead! Taiwan Cannot Wait Any Longer
Compared to the Hong Kong Securities and Futures Commission already issuing guidelines for brokerage platforms, and Vietnam's new law in 2026 clearly including crypto-like derivatives, Taiwan still lacks detailed frameworks. Zhang Senxiong warned that without clear regulation, capital and talent might flow out; conversely, transparent AML regulations can boost institutional investor confidence.
At the end of their speeches, Zhang Senxiong described crypto financial businesses as "conscientious businesses". Ge Ruzheng outlined an ecosystem combining AI and "Republic of Chain" that will be realized in future financial markets. Huang Shanshan was very practical, hoping to let businesses "see profit space". Their consensus was that as long as derivative products can be reasonably regulated, Taiwan's conditions could secure a place in the global digital financial competition.
