[2019-01-15]Malaysia Implements Cryptocurrency And ICO Regulation

[ppblockchain]

 Malaysia’s Finance Minister YB Tuan Lim Guan Eng announced that cryptocurrencies and initial coin offerings have come under regulation on Tuesday.

As per the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019, crypto currency service providers and exchanges are required to obtain authorization from the country’s Securities Commission, which will work with the central bank to ensure compliance.



https://paperblockchain.com/malaysia-implements-cryptocurrency-and-ico-regulation/

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[Theb]

Malaysia is not one of the countries being shown mostly in the headlines of cryptocurrency news sources. But even without the media attention from their cryptocurrency scene they are in fact one of the countries who adopted early to cryptocurrencies just like Japan and South Korea, the only problem is they have a struggle on having a legal framework not until now unlike their Asian neighbors who were fast on implementing theirs. I think that their main problem back then was their decision on not recognizing digital assets as a legal tender in their country while at the same time figuring out on how their crypto exchanges will work with that kind of implementation.

[btyco]

Malaysia doesn't have any well known ico's or exchanges, and i doubt this new law will have any impact. If someone is doing crypto business they will cross the border into singapore and do it there