Virtual Asset Exchange, New Leap in Preventing Voice Phishing……Legal Amendment Passed

TechubNews · 2026-03-12T10:38:10+00:00

The amended Telecommunications Fraud Victim Restitution Act requires virtual asset exchanges and financial institutions to assume equal prevention and remedial responsibilities, allowing them to monitor fund flows and freeze accounts to ensure victims receive compensation quickly. The legislation is expected to take effect in October and will strengthen prevention against virtual asset fraud and enhance market credibility.

TechubNews

2026-03-12 10:38:10

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According to the new legislation announced by the Financial Services Agency, virtual asset exchanges will be required to implement measures equivalent to those of financial institutions to prevent voice phishing and assist victims. The amendment to the “Telecommunications Fraud Victim Refund Law,” passed by the National Assembly on the 12th of this month, includes these provisions. It is expected that measures to combat financial scams using virtual assets will be further strengthened in the future.

The main content of the amendment requires virtual asset exchanges to continuously monitor suspicious voice phishing-related fund flows and to immediately freeze relevant accounts when criminal activity is suspected. This aims to facilitate quick recovery of stolen assets. Accordingly, a system has been established to confirm the purpose of virtual asset transactions and to promptly return related assets.

Previously, only monetary losses were covered by compensation, making it difficult to assist victims when virtual assets were stolen or converted into similar crimes. With this amendment, losses involving virtual assets can also be compensated. Additionally, when victims make requests, virtual asset exchanges are now legally permitted to directly sell virtual assets and return cash to victims, which is expected to provide more tangible assistance.

The Financial Services Agency hopes that, through the passage of this legislation, virtual asset exchanges will be integrated into a victim prevention system, thereby building a stronger voice phishing prevention network. It is anticipated that this amendment will also make the virtual asset market a key pillar in preventing financial scams.

The amendment will take effect in October of this year, six months after its announcement, and is expected to lead to more comprehensive responses to voice phishing crimes involving virtual assets. Financial experts predict that this improvement will generally have a positive impact and may contribute to restoring trust and systemic management in the virtual asset market.

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