The Republic of China Virtual Currency Trade Association (hereinafter referred to as the Virtual Currency Association) was officially established on June 13, 2024, with 24 companies that have completed Taiwan Financial Supervisory Commission's Anti-Money Laundering (AML) compliance declarations becoming founding members.
Membership Classification and Tier Structure
The association categorizes members based on five business activities defined under the "Virtual Currency Platform and Transaction Business Anti-Money Laundering and Counter-Terrorism Financing Regulations":
- Exchange between virtual currencies and NT$, foreign currencies, or currencies issued by mainland China, Hong Kong, or Macau.
- Exchange between virtual currencies.
- Transfer of virtual currencies.
- Custody/management of virtual currencies or provision of related management tools.
- Participation in/provision of financial services related to virtual currency issuance/sales.
- Other non-specified activities.
Membership Tiers:
Class A: Engages in activities 1–5 or 2–5.
- Tier 1: Paid-in capital ≥ NT$30M + ≥20 employees OR ≥100 employees.
- Tier 2: Does not meet Tier 1 criteria.
Class B: Engages in any two of activities 1–3.
- Tier 1: Paid-in capital ≥ NT$15M + ≥15 employees OR ≥100 employees.
- Tier 2: Does not meet Tier 1 criteria.
Class C: Engages in activities 3–4 or other non-classified operations.
- Tier 1: Paid-in capital ≥ NT$10M + ≥15 employees OR ≥100 employees.
- Tier 2: Does not meet Tier 1 criteria.
Founding Members Table
| Category | Company Name | Operating Brand |
|---|---|---|
| A Tier 1 | Modern Wealth Technology Co., Ltd. | MaiCoin & MAX |
| Ace Digital Innovation Inc. | ACE | |
| BiLai Limited | Rybit | |
| ChainTech Inc. | XREX | |
| Generation Coin Technology Co., Ltd. | GoldBit | |
| BitoEx Technology Inc. | BitoPro | |
| HOYA Digital Technology Co., Ltd. | HOYA BIT | |
| Sanchuan Token Inc. | BitstreetX | |
| WoHeng Technology Taiwan Branch | WoHeng | |
| Pioneer Digital Technology Inc. | ZONE Wallet | |
| A Tier 2 | Cross-Chain Technology Inc. | Chainss |
| WOO Network Technology Co., Ltd. | WOO Network | |
| Bityacht Technology Inc. | Bityacht | |
| B Tier 1 | HzBit Digital Co., Ltd. | HzBit |
| CoinWorld International Management Co. | CoinWorld | |
| B Tier 2 | Taiwan Zhi Jing Co., Ltd. | Taiwan Zhi Jing |
| ZomFast Co., Ltd. | ZomFast | |
| BitShine Technology Co., Ltd. | BitShine | |
| BitAsset Asia Pacific Co., Ltd. | BitAsset | |
| Trains International Co., Ltd. | Trains | |
| COINSHA Co., Ltd. | COINSHA | |
| Buycoin Co., Ltd. | Buycoin | |
| OSE Co., Ltd. | OSE | |
| C Tier 2 | CYBAVO Technology Co., Ltd. | CYBAVO |
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FAQs
Q: How are members classified in the Virtual Currency Association?
A: Members are divided into Classes A/B/C based on business activities, with Tiers 1/2 determined by paid-in capital and employee count.
Q: What are the key compliance requirements for founding members?
A: All members must complete AML declarations with Taiwan's Financial Supervisory Commission.
Q: Why is the association’s tiered structure significant?
A: It ensures standardized regulatory adherence while accommodating diverse business scales and operational models.
Q: Will there be updates to the membership list?
A: The association may periodically review and update members based on regulatory changes and compliance statuses.