Introduction
The Bitcoin and Virtual Asset Development Association (BVADA) is dedicated to advancing the regulatory adaptation, application, and growth of virtual assets. Its mission is to help Taiwan establish a robust and healthy virtual asset industry environment, fostering the development of related sectors and contributing to overall economic progress.
Taiwan is home to world-class software talent, and in recent years, its virtual asset industry and related applications have gained international financing and media attention. This has positioned Taiwan as a global hub for virtual asset development, attracting international talent and enhancing the island's prominence in the worldwide virtual asset landscape.
Organizational Structure
The association operates through specialized working groups, each focusing on key areas of development and advocacy.
Industry Development Group
This group is exclusively for companies operating in the cryptocurrency sector.
- Serves as a liaison for regulatory adaptation and communication with major government bodies.
- Works towards establishing a virtual asset commerce and industry association.
- Assists in implementing anti-money laundering (AML) and information security industry standards.
Convener: Lawyer Hong-Yu Lin
Deputy Convener: Lawyer Hsueh-Feng Cheng
Community Development Group
Composed of community leaders in Bitcoin and cryptocurrency, as well as related social media companies.
- Organizes regular community outreach and promotional events.
- Promotes accurate understanding and education about Bitcoin.
- Advocates for cryptocurrency investment and applications, such as NFTs.
Convener: Szu-Cheng Hung
Deputy Convener: Shu-Ming Yang
Academic Research Group
Includes academic researchers, university professors, lawyers, accountants, and other professionals or institutions.
- Advocates for regulatory and accounting standard adaptations.
- Hosts or co-hosts seminars, forums, and discussions on relevant topics.
- Facilitates collaboration on academic research projects.
Convener: Professor Pei-Ling Hsu
Deputy Convener: Professor Ting-Hsien Cheng
International Affairs Group
Comprised of entrepreneurs, international lawyers, accountants, and other professionals with cross-border experience.
- Facilitates exchange of intelligence and resources within the global virtual currency industry.
- Promotes the association as a window for the international community to understand Taiwan's virtual asset ecosystem.
Silicon Valley Representative: Kevin C. Weng
Tokyo Representative: Pei-Hsun Kao
El Salvador Representative: Hong-Yong Wu
Board of Directors and Membership
The Bitcoin and Virtual Asset Development Association is a non-profit corporation approved by the Ministry of the Interior. It held its inaugural membership meeting on May 6, 2021. Corporate members primarily include major virtual asset exchanges, custodial services, wallet providers, and other virtual asset businesses in Taiwan. Individual members consist mainly of academics and professionals with legal and accounting backgrounds.
Board Members List
- Honorary Chairman & Chairman: Jung-I Weng
Co-founder of US-based RESPERA Regenerative Medicine Group - Executive Director: Li-Ying Wang
Legal and Public Policy Consultant at Appworks, Managing Lawyer at Tomorrow Technology Law Office - Supervisor: Shu-Ming Yang
Training Manager at French life insurance company - Secretary-General: Wei-Chi Chu
Titan Lab, Partnership - Deputy Secretary-General & Project Manager: Hao-Xin Chang
Corporate Membership
The association welcomes virtual asset businesses and related entities to join as corporate members, contributing to a collaborative effort in shaping the industry's future.
Information Security Announcement
After extensive research and discussion with industry experts, the association officially announces the "Virtual Asset Industry Information Security Standards Guidelines." These guidelines aim to protect Taiwanese users' virtual assets by establishing unified security protocols, ensuring internal audits and controls are implemented, and promoting relevant information security measures. Several corporate members have already adopted these guidelines.
To encourage attention and investment in information security among member organizations and leading domestic virtual asset platforms, the association assists in processing "Information Security Management Policy Declarations." Platforms that complete this declaration are listed on the association's official website, providing transparency for consumers and stakeholders in their decision-making process.
Platforms That Have Completed the Declaration
(A list would be maintained here, though specific names are not provided in the original text.)
Required Documentation for Declaration
Companies wishing to complete the "Information Security Management Policy Declaration" can download the required documents (a zip file containing 4 forms) via the link below. After completion, the forms should be emailed to the association for review by the VASP Information Security Standards Committee.
👉 Access the required security declaration documents here
Bitcoin White Paper
Since its establishment in 2021, the association has been committed to promoting regulatory adaptation for virtual assets and fostering their application and development. It has also assisted in forming a virtual asset industry association. Consulting with various experts, the association formally presents its Bitcoin and Virtual Asset Development White Paper, outlining future action plans for three key policy areas:
- The Four Major Importance of Bitcoin to Taiwan
- Promoting the Regulation and Application of Virtual Assets in Taiwan
- Advancing Blockchain Technology Application and International Exchange in Taiwan
Joining the Association
Interested parties—whether individuals or corporations—are requested to download the appropriate membership application form. After filling it out and signing/stamping, please scan and email it to [email protected].
There are two types of forms:
- "Bitcoin and Virtual Asset Development Association - Individual Membership Application Form"
- "Bitcoin and Virtual Asset Development Association - Corporate Membership Application Form"
Both are available in PDF and Word formats for your convenience.
👉 Explore more strategies for industry engagement
Frequently Asked Questions
What is the primary goal of the Bitcoin and Virtual Asset Development Association?
The association aims to foster a healthy environment for the virtual asset industry in Taiwan. Its work focuses on regulatory adaptation, promoting secure applications, and supporting the overall growth of the sector to benefit the economy.
Who can become a member of the association?
Membership is open to both individuals and corporations. Corporate members are typically from the virtual asset industry, such as exchanges or wallet services. Individual members often include academics, lawyers, accountants, and other professionals with relevant expertise.
How does the association contribute to information security?
It has established a set of Information Security Standards Guidelines for the virtual asset industry. The association also helps members complete a security management policy declaration, which is then publicly listed to enhance transparency and trust for users.
Does the association operate internationally?
Yes, through its International Affairs Group, the association facilitates the exchange of information and resources with the global virtual currency industry. It has representatives in key locations like Silicon Valley, Tokyo, and El Salvador.
What are the key focus areas outlined in the association's White Paper?
The White Paper details three main pillars: highlighting Bitcoin's significance for Taiwan, advancing the regulation and use of virtual assets locally, and promoting blockchain technology applications and international cooperation.
How can I apply to join the association?
You need to download the relevant application form (individual or corporate) from the provided information, complete it, and then submit it via email to the address specified by the association for processing.