Securities Commission Malaysia Registers 3 Digital Asset Exchanges

Asia Blockchain Review
June 6, 2019

The Securities Commission Malaysia (SC) announced that it has registered three Recognized Market Operators (RMOs). With the permit, the companies are able to launch and operate digital asset exchanges (DAXs) in Malaysia.

Digital Exchanges Driving the Malaysian Assets Market

The SC granted the permit to three DAX operators: Luno Malaysia Sdn. Bhd., SINEGY Technologies (M) Sdn. Bhd., and Tokenize Technology (M) Sdn. Bhd.

These new RMOs are allowed a maximum timeframe of nine months to fully comply with all regulatory requirements.

The securities regulator made the announcement in line with the issuances of the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 on January 15th, 2019 and the revised Guidelines on Recognized Markets on January 31st, 2019, introducing new requirements for DAX operators.

Strict Regulations for Malaysian Digital Operators

According to the SC, DAX operators who have not been granted licenses must cease all activities immediately and return all assets and funds deposited by investors.

Meanwhile, companies running a DAX without the necessary permits issued by the SC would be subject to Malaysia’s securities laws. Individuals found to have conducted unauthorized activities may face a fine, jail time, or both.

The SC added in its statement that the general public has been advised to exercise caution related to the risks of digital assets trading, especially activities on exchanges that have not yet registered with the SC.

Source: https://www.sc.com.my


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
South Korea’s Postal Service to Adopt Blockchain for Billing
South Korea’s national postal service is partnering with Coinplug to apply the technology to its bil...

June 19, 2019

Relex Crypto Platform Endorsed by Over $600M Vietnam Seaport Project
The investment platform has been endorsed by a seaport development project in its request for invest...

June 18, 2019

South Korean Power Providers to Set up Blockchain System for Energy Certificates
The agreement will establish a blockchain-powered system to improve transparency and efficiency of t...

June 18, 2019

‘F1 Delta Time’ Offers In-Game Items Stored on Blockchain
A Hong Kong-based game developer is integrating blockchain into its titles to allow permanent owners...

June 18, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us