Green Satoshi Token in Taiwan

Taiwan holds a small but useful place on the STEPN map. While most Asian exchanges have dropped Green Satoshi Token (GST) or never listed it, MAX, the platform run by MaiCoin, still shows a GST/TWD market. That makes Taiwan one of the very few places in Asia where you can buy GST directly with local currency. It sounds like the easy answer. In practice it comes with a liquidity catch and a network question that every Taiwanese player should understand first.

This guide covers STEPN and GST in Taiwan: how crypto platforms are supervised by the Financial Supervisory Commission (FSC), what the new Virtual Asset Service Act will change, how the GST/TWD market works, the alternative base-coin route, and the tax questions you should take to a professional. If you are new to the game itself, our STEPN beginner guide explains sneakers, Energy and earning.

How Taiwan supervises crypto platforms today

Right now, Taiwan uses a registration model. Virtual asset service providers (VASPs) that serve Taiwanese customers complete anti-money-laundering registration with the FSC. That registration is focused on knowing who customers are and tracing suspicious flows. It is lighter than a full licensing regime: it does not, on its own, set detailed rules for listing standards, custody or capital in the way a licence would.

The two names most Taiwanese crypto users know are MAX (MaiCoin) and BitoPro. Both offer TWD deposits, which is what makes them the natural first stop for anyone in Taiwan who wants to play STEPN. They differ sharply on STEPN tokens, though. According to CoinGecko’s ticker data, MAX lists GST against the Taiwan dollar. ^[source] On BitoPro we found no GST or GMT pair at all. We could not query MAX’s own API directly, so the listing is confirmed through CoinGecko rather than the exchange itself, and you should check it in your MAX account before planning around it.

The Virtual Asset Service Act: what is coming

Taiwan is moving from registration to licensing. The Legislative Yuan passed the Virtual Asset Service Act at the end of June, and it was promulgated in late July. It is Taiwan’s first dedicated crypto statute and gives the FSC sole oversight. ^[source] The main points:

• Seven categories of VASP licence, covering different kinds of crypto business.
• Rules for stablecoins.
• Tough penalties for unlicensed or illegal activity: up to seven years in prison and fines up to NT$100 million.

The Act and its detailed regulations take effect in the first quarter of 2027 at the earliest, on a date to be set by the Executive Yuan. ^[source] Until then, the existing registration system continues. For a STEPN player, the practical question is whether licensed platforms will keep listing small tokens like GST once the new rules apply. Nobody can answer that yet. Stricter listing standards elsewhere in Asia, such as Hong Kong’s licensed platforms, have tended to favour large, liquid coins, which is worth keeping in mind.

Buying GST with TWD on MAX: useful, but handle with care

Being able to buy GST with Taiwan dollars is genuinely convenient. You skip one swap, you skip the in-app 1% fee on that swap, and you avoid moving a base coin around. But a fiat market for a micro-cap token has its own risks.

Liquidity. GST trades for fractions of a cent in every realm, and global volume is small. A TWD order book for it is likely to be thin, with wide gaps between buy and sell prices. A market order can fill far from the price you expected. Use limit orders, start small and watch how the book reacts. If you see only a few orders on each side, treat that as your real liquidity, not the last traded price.

Network. STEPN runs three realms: Solana, BNB Chain and Polygon. GST is a separate token in each (sGST, bGST and pGST), with different prices, and it cannot be moved between realms. The ETH realm was replaced by Polygon in August 2025, and the old ETH GST is inactive. Before you buy on MAX, confirm which network it uses for GST withdrawals and make sure it matches your realm. If it does not match, the GST you bought is not usable in your STEPN account. Our realm guide lists the official contract addresses so you can check.

Price gaps. Because the three GST tokens trade separately, the TWD price on MAX may not line up neatly with the dollar price of the realm you play. Compare it with the live GST price and with the local-currency price at the top of this page before you buy.

Why a TWD market for GST is so unusual

To see why the MAX listing stands out, look at what happened elsewhere. Bitfinex delisted GST back in 2022. ^[source] KuCoin stopped GST trading in April and closed withdrawals a month later. ^[source] Gate now marks the token as delisted, Bitget and MEXC no longer have a GST pair, and Binance never listed GST at all, only GMT. Outside decentralised pools, the remaining spot markets we could confirm are Coinbase and Kraken in US dollars, plus MAX in Taiwan dollars.

That history is a reminder that listings for small tokens can disappear. If you rely on the TWD market, keep an eye on MAX announcements, and know your fallback: the in-app swap into a base coin or GMT, which works as long as the on-chain pools have liquidity. Each realm runs as its own economy, and the whitepaper is explicit that in-game utility tokens cannot be transferred between realms. ^[source]

The base-coin route from Taiwan

If you use BitoPro, if MAX’s GST network does not match your realm, or if the order book is too thin, the standard route works just as well from Taiwan:

1. Choose your realm

   Solana, BNB Chain or Polygon. Your choice decides which base coin you need.

2. Buy the base coin in TWD

   Buy SOL, BNB or POL on an FSC-registered platform after completing KYC.

3. Send it to your STEPN wallet

   Use the address in the app for that realm, on the matching network. Send a small test amount first.

4. Swap to GST in the app

   The in-app swap uses FSL’s DOOAR exchange and charges 1%. Keep some base coin for gas.

This route has a hidden advantage: it keeps most of your money in a more liquid coin until the moment you need GST. You swap only what you plan to spend on level-ups, repairs or Mystery Boxes. Our full GST buying guide compares this approach with buying GST directly on an exchange.

Selling GST back to Taiwan dollars

Taiwan’s GST/TWD market also matters on the way out. In theory, you can move GST from your STEPN wallet to MAX and sell it straight for TWD. That is one of the shortest exit paths anywhere in Asia. The same cautions apply in reverse: the network must match the realm, and a thin order book means a large sell can push the price down sharply. Some players find it easier to swap GST into GMT or the base coin inside the app first, then sell that more liquid asset. Our guide on how to sell GST walks through both exits and explains the gas fees involved.

Whichever way you go, the withdrawal from STEPN follows the same pattern: move tokens from your Spending account to your Wallet (an on-chain transfer that costs gas), then send them on the correct network. STEPN blocks withdrawals for accounts whose anti-cheat Turing Score is 80 or below, so if you have been flagged, sort that out first.

Taxes on STEPN income in Taiwan

We could not verify a Taiwan-specific rule on how crypto or move-to-earn income is taxed for individuals, so we are not going to quote a rate. That gap is deliberate. Getting it wrong would be worse than saying nothing.

What we can suggest is the record-keeping that will help whatever the rules turn out to be. Note the date, amount and TWD value of each purchase on MAX or BitoPro, each in-app swap, each marketplace sale and each cash-out. Keep exchange statements and your wallet address. If STEPN is a meaningful source of money for you, ask a Taiwanese accountant how your activity should be reported, and check guidance from Taiwan’s tax authorities directly. The new Virtual Asset Service Act is a regulatory law, not a tax law, so do not assume it settles tax questions.

Community and risks for Taiwanese players

Taiwanese players generally use the global STEPN channels, and we could not confirm an official Taiwan-specific STEPN group. Reach every channel from STEPN’s official links page, because fake groups and fake moderators are a constant problem. STEPN states that official moderators never DM you and never ask for tokens, 2FA or seed codes. ^[source]

The main risks for Taiwanese players are:

Thin fiat liquidity. The GST/TWD market is a convenience, not a deep market. Treat displayed prices as estimates until your order fills.

Regulatory transition. When the new Act takes effect, platforms will need the right licence category. A listing that exists today is not guaranteed after the transition.

Token risk. GST has no supply cap and sits near its all-time low. STEPN is still running, with monthly updates from FSL, but the token’s price depends on how much GST players earn versus how much they burn. Before buying sneakers, run your numbers through the GST earning calculator.

If you also follow Hong Kong’s market, our Hong Kong guide shows how a full licensing regime affects access to small tokens. For the region-wide picture, visit the Asia hub.