• Thu, 22 Aug 2019, 05:17 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Securities Commission Malaysia likely to launch crypto and ICO regulatory framework by Q1 2019

Photo: The Star

Tue, 15 Jan 2019, 04:16 am UTC

The Securities Commission Malaysia (SC) has announced its plans to implement guidelines to regulate the trading of cryptocurrencies and initial coin offering (ICO).

The announcement follows the recent statement from the Minister of Finance YB Tuan Lim Guan Eng that the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 will go into effect on January 15, 2019.

Guang Eng had said that digital currencies and digital tokens – collectively called ‘digital assets’ – as defined in the order were prescribed as “securities” and would be regulated by the SC.

In its official release, the SC said that the guidelines would establish the criteria for “determining fit and properness of issuers and exchange operators, disclosure standards and best practices in price discovery, trading rules and client asset protection.”

“Those dealing in digital assets will be required to put in place anti-money laundering and counter-terrorism financing (AML / CFT) rules, cyber security and business continuity measures,” it added.

With the Prescription Order coming into effect, the SC said that the offering of digital assets and related associated activities will require its authorisation and compliance with relevant securities laws and regulations.

“The relevant regulatory framework is expected to be launched by end-Q1 2019,” the SC added.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,018.30 (-2.74%)
  • Ethereum (ETH) $186.24 (-1.85%)
  • XRP (XRP) $0.265800 (-0.61%)
  • Bitcoin Cash (BCH) $301.05 (-2.33%)
  • Litecoin (LTC) $72.75 (-1.68%)
  • Bitcoin (BTC) $10,018.30 (-2.74%)
Aug 22, 2019 (Thursday)
04:01
Indian Supreme Court grills RBI for cryptocurrency banking ban
03:49
Cryptopia customers did not have individual wallets; liquidator Grant Thornton to manually determine crypto ownership
03:34
Korean crypto exchange Prixbit shuts down over financial crisis
03:31
Crypto Technicals: BTC/USD below $10K, breach of 'Symmetric Triangle' could plummet prices further
Aug 21, 2019 (Wednesday)
12:56
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:27
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:25
European Commission looks into “potential anti-competitive behavior” of Facebook's Libra: Report
11:10
Thailand’s Siam Cement Group seeks to expand Corda-based ‘Procure to Pay’ solution to 2,400 suppliers by 2020
10:40
Crypto Technicals: BCH/USD rejected at cloud, violation at 200-DMA to open up downside
10:21
Blockchain settlement startup Fnality adds former UBS and IMF executives to management team
09:17
Austrian telecom giant A1 to offer cryptocurrency payment option
09:02
Japan's Amaten, Aelf to revolutionize gift card market using blockchain
07:37
Crypto Technicals: Monero (XMR) recovery falters at major trendline resistance, slips below cloud
07:34
Blockchain securities issuance platform iownit.us obtains approval from FINRA
06:37
Crypto Technicals: ETH/USD struggles to extend gains beyond $200 mark, bias bearish below 200-DMA
06:18
Square Crypto hires Blockstream co-founder Matt Corallo to boost bitcoin adoption
06:16
Commonwealth Bank of Australia develops blockchain-based marketplace and token to protect biodiversity
05:40
Crypto Technicals: Bitcoin fails to take out $11K mark, tumbles below 55-EMA support (10428)
05:07
EMURGO inks MOUs with South Korean trade associations to boost Cardano adoption
04:15
China may launch its central bank digital currency ahead of Facebook's cryptocurrency Libra
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft