• Sun, 19 May 2019, 08:56 PM
  • All times are UTC
  • Edition:
Link copied

Securities Commission Malaysia seeks public feedback on proposed regulatory framework on ICO and property crowdfunding

Photo: The Star

Thu, 07 Mar 2019, 03:43 am UTC

The Securities Commission Malaysia (SC) is seeking public feedback on the framework for Initial Coin Offering (ICO) and property crowdfunding.

The regulator has published two consultation papers – one on the proposed regulatory framework for the issuance of digital asset through ICOs, and the other on the proposed regulatory framework for property crowdfunding.

The consultation paper on ICO discusses the proposed framework for, among others, the eligibility of issuers, the need for transparent and adequate disclosures as well as utilisation of proceeds of the ICO. The SC said:

“The lack of a regulatory framework for ICOs currently, exposes investors to the above risks and makes them vulnerable to fraud and manipulation. Regulation is therefore required to mitigate the risks posed by ICOs for purposes of investor protection and promoting confidence in the ICO market.”

To that end, the regulator said that it is adopting a two-pronged approach to mitigate incidences of fraud while protecting market integrity. Elaborating further, it said:

“This approach entails an authorisation for the offering or issuance of the ICO and the registration of a disclosure document (Whitepaper) which complies with prescribed minimum requirements set by the SC.”

In its consultation paper on property crowdfunding, the SC is seeking public feedback on the proposed regulatory framework which will, among others, set the eligibility requirements of first-time homebuyers, criteria of properties which can be listed on the platform, obligations of platform operators and financing limits.

Those interested can submit their comments by 29 March 2019.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,007.71 (+9.88%)
  • Ethereum (ETH) $256.57 (+8.60%)
  • XRP (XRP) $0.406100 (+8.65%)
  • Bitcoin Cash (BCH) $420.32 (+16.12%)
  • Litecoin (LTC) $94.44 (+8.39%)
  • Bitcoin (BTC) $8,007.71 (+9.88%)
May 17, 2019 (Friday)
Crypto Technicals: XMR/USD holds 21-EMA support, bearish divergence on RSI and Stochs weighs
Crypto Technicals: ETH/USD hovers around 5-DMA, overbought conditions may lead to further unwinding
Banking giants to invest $50M in blockchain-based settlement project: Report
Crypto Technicals: BTC/USD extends correction, eyes 5700 on break below 21-EMA support
Crypto exchange Coinbase in talks to acquire Xapo for $50M: Report
Blockchain startup Ripio launches crypto-fiat exchange and OTC desk
Sirin Labs allows FINNEY users to purchase crypto with credit cards via Simplex integration
Crypto-backed Brave Browser seeks over $30M in funding round: Report
Cryptocurrency exchange Bitfinex granted motion to modify injunction
Poloniex to stop offering 9 crypto assets in U.S. over regulatory uncertainty
ECB invites paper submissions on crypto, stablecoin, and DLT for payments conference
Louis Vuitton owner LVMH unveils blockchain provenance platform ‘AURA’ for luxury industry
Industry groups, fintech want Reserve Bank of India to consider including cryptocurrency in sandbox
HKMA, BoT enter fintech collaboration, hint at joint central bank digital currency project
French Producer Dominique Boutonnat recommends blockchain technology in the film industry
Quoine-owned Liquid ties up with Virtual Currency Partners to enter US market
One-third of the world’s Ether is owned by only 376 people: Chainalysis
May 16, 2019 (Thursday)
Crypto Technicals: Bitcoin Gold consolidates below 61.8% Fib, 'Golden Cross' keeps bias bullish
Crypto exchange Seed CX adds support for PAX, USD Coin and TrueUSD
Crypto Technicals: ETH/USD edges lower from 8-month highs, potential 'Shooting Star' keeps scope for weakness
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.