Malaysia approves crypto exchange registration

[Berryvery394]

3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?

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[boyptc]

3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?

Malaysia and US has different point of view against exchanges and they have different regulations as well.

As for the news this is the source --> https://news.bitcoin.com/malaysia-approving-crypto-exchange-registrations/

[jseverson]

Approval of trading platforms doesn't necessarily equate to improving regulations. That just means that the approved entities were compliant. The US should likewise approve any platforms that are fully compliant with their regulations.

Either way, different territories have different laws, and I don't think the size of the two countries have anything to do with it. The better question would be "why is the US clamping down so hard", and that I have no answers for lol.

[dothebeats]

Either way, different territories have different laws, and I don't think the size of the two countries have anything to do with it. The better question would be "why is the US clamping down so hard", and that I have no answers for lol.

The US knows that it can bully anyone by trying to wave their dicks in front of other countries by coming down hard by means of regulations or by imposing ridiculous and unfair trade bans against other countries that might benefit a lot from them. They are fighting a losing battle when it comes to business interests since people who are affected by said sanctions could just take their business elsewhere wherein they can feel welcome anytime and expand their business without having to worry about strict regulations.

As for the exchange in Malaysia, it's about time that they also appear and expand knowing that the crypto scene in SEA is ever-growing, and this should be the start of something fruitful for the cryptomarket especially for the people of Malaysia.

[leea-1334]

So according to you,,, a big country should just go ahead and let 250 million people go do what they like,,, while a small country should not let so many people on to crypto?

Here is the big news for you. If you use Bitcoin you do not need the permission of anyone not even your country to go and use Bitcoin. It is free for all to use. This is the whole point in fact!

[bvyvjdidn]

I am glad that the norms are being established which the exchange or project must comply with so that they can openly offer their services to users. Of course, many people see this as an attempt by the state to limit the possibilities of decentralized projects. But this is done only in order to protect the rights of these same persons. There are too many scammers in the crypto exchange, so it’s better to see who follows strict rules and who does not want to make an effort to secure their users.

[jushfln]

I am glad that the norms are being established which the exchange or project must comply with so that they can openly offer their services to users. Of course, many people see this as an attempt by the state to limit the possibilities of decentralized projects. But this is done only in order to protect the rights of these same persons. There are too many scammers in the crypto exchange, so it’s better to see who follows strict rules and who does not want to make an effort to secure their users.

Unfortunately, even if the number of scammers among cryptocurrency exchanges decrease after the introduction of standards and licenses, this will not greatly affect the number of dissatisfied investors. Cryptocurrency investing begins to attract more and more new users who do not understand the basic features of the stock exchange, cryptocurrency, investment features. I spent the time to study the training materials on the taklimakan platform and I see how much I was not ready to trade before. If more people will not ignore the training stage, then there will be less failures.

I agree with you. Without a detailed understanding of the characteristics of different types of exchanges, and how to trade, you can not count on profit. Of course there are good times when lucky beginners. But like the classic stock trading, cryptocurrency trading also obeys financial laws without the knowledge of which you just waste your money

[borrorofju]

Southeast Asia is now the leading market for new startups, and of course a large number of exchanges are constantly opening there. Regulation of cryptocurrency is a necessity for the market.

[bitbunnny]

Seems that Asian countries are more and more supportive towards cryptocurrencies. This is probably one of ways they try to be competitive with Europe and America, especially in the field of new technologies and that is good news for crypto world. Positive regulation could only bring progress and further development of cryptocurrencies so this is an example to follow.

[Strongkored]

One of the things that is advantageous if there is an exchange that has been allowed to operate in a country is that there is legal protection from every transaction.
Why is it that large countries have not been able to receive it? Maybe there are many things that should be considered well when there is an exchange given permission to operate in the country will not harm the state and the community, especially crypto users.

[MonsterV]

Yes, it seems that Malaysia is starting to try new luck in crypto, this developing country does not want to be left behind by other developed countries. In my opinion it is legitimate if a government allows an exchange as long as the exchange complies with central bank regulations as happened in my country.

For reasons why the US banned crypto, I think this is due to the impact of trade wars. Many US countries avoid taxes through crypto, in my opinion this is also a reason because the US state itself is famous for its many taxes.

[kaya11]

3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?

That is awesome, malaysian are somewhat welcoming new technologies in their country and crypto,even at the early stage of development is open to be traded in the country. The prime minister is a brilliant and intelligent man and I know that approving the exchanges would benefit the economy.

[Lily_Olive]

I am  glad to read it...well malaysia  and US  has different  technologies..
South Asia  is also a leading  market for new startups.. i am happy  to  know it...

[sehoon]

I think the US is just being careful about the illegal things you can do with bitcoin and Malaysia might be also aware of it but they want to regulate things regarding it. But I think this is still good news to the community that a state is approving this kind of things that are related to cryptocurrency.

[hahahafr]

Every country has its own policies and regulations so you just can't say just because Malaysia approves of it United States of America should also approve it. Anyway it's a great idea that and a step in the right direction that Malaysia has open its doors to cryptocurrencies and blockchain startups.

[Iceblast]

3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?

I think a country like the US is subject to regulatory regulations from the government. all agreements must be in accordance with regulations and the government supports. if that doesn't happen and there is no support I think like the US will not be able to accept the crypto exchange

[rosezionjohn]

3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?

You may be confused here. The US has allowed many exchanges to operate. It is only now that they are imposing stricter rules to deter illegal activities. These exchanges in Malaysia were probably approved because they agreed to be fully compliant with their local laws.

[Slow death]

3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?

look at the article, it seems to me that the rules that the Malaysian government is imposing on the exchanges are very harsh and disadvantageous for the exchanges, it is not possible that such a large number of exchanges have been obliged to access their operations and consider this as something normal or that all such exchanges that have been ordered to cease operations do not desire comply with the regulations of the Government of Malaysia. It seems to me that the government is choosing the exchange according to its own interest or advantage

[Nnuego]

You can't compare Malaysia government with USA government. They both have different angles of handling issue that concerns their citizen welfare. They (USA)have regulatory bodies to cover every tokenized assets. It's something you cant just decide to do in USA and expect permission immediately without them knowing your aim and vision. Everything in USA takes time and you can't persuade the regulators

[waynechong1995]

It was a tail move where Malaysia years ago freeze local exchanges account and cause massive withdraw problem for fiat buyers, until these months after the new government there's a different standpoint, Not sure about the details on how to be fully comply with new regulations, most popularly KYC and tax induction for big volume, Neighbor countries like Singapore have countless crypto business standing and there's little concern about the impact to themselves, but i understand US strict regulators acts as leader to deal with so called raising problems among crypto

[maydna]

3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?

I think the US needs to discuss approving cryptocurrency with its regulations, or they will make regulations to control cryptocurrency. But we don't know why the US only issue regulations against using cryptocurrency than the other country. Besides that, we know that the US is a giant country which needs to discuss with all of the government elements.

But that will be good news for cryptocurrency user, especially for Malaysian cryptocurrency user because they now can use cryptocurrency by free without any worry. I hope that the other Asian countries will follow the previous country which already accepting cryptocurrency so cryptocurrency can grow more than now.

[chichidori]

3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?

US is a vast country and government should protect there citizen to any threat even in monetary situation, investing in crypto as we all know is very risky a lot of scams happen and you could lose everything in just hours, so USA decided that it needs to be regulated.

[Lily_Olive]

I am glad that the norms are being established which the exchange or project must comply with so that they can openly offer their services to users. Of course, many people see this as an attempt by the state to limit the possibilities of decentralized projects. But this is done only in order to protect the rights of these same persons. There are too many scammers in the crypto exchange, so it’s better to see who follows strict rules and who does not want to make an effort to secure their users.

I am aslo glad..people should more focus on bitcoin market...

[Payme21]

I think we will get there gradually because the government cannot keep us quiet for too long as its natural that the will of the people prevails

[CryptoBry]

Malaysia decided to instead ban cryptocurrency exchanges they better allow such a new industry to grow but under a strict environment and every player should be following the regulations otherwise there will be repercussions as provided by the laws of the country. Now, compared to China this might be a better condition because here the business is legal and not done underground. In comparison, one can also do the same business in USA and also under the strict regulations and limitations. I have nothing against so much with the regulations in place because there had been some exchanges which victimized innocent people and so a filtering process should be in place...and this is not just specific with cryptocurrency business actually but also with other entities involved with investment products. Any exchange who desires to do business in any country should pass the eyes of the needle and must always be on their best shape otherwise regulators will do their job of making things more difficult. Everything is a test.

[Baofeng]

This is the 3 exchanges that have been approved:

The three exchanges registered are Luno Malaysia, Sinegy Technologies, and Tokenize Technology.

But the guidelines are very strict, they categories crypto as securities:

The SC has also warned that all cryptocurrencies assets will require prior approval before trading on any exchanges. Those who continue to operate unlicensed crypto exchange would risk to RM10 million fine ($2.4 million) and ten years of jail time, or both.

https://www.ccn.com/strict-malaysian-approves-first-3-cryptocurrency-exchanges/

Forget about US though, they are clamping very hard on everything that evolving crypto, so pretty obvious that US won't allow this new revolution to take place in their country.

[goolesby]

I think that Malaysia is not a small country. Well, it may relate to certain regulation in each country. The US may have a strict regulation about cryptocurrency. In this case, Many people in Malaysia are interested enough in crypto, and the government also concerns with it because it gives big benefits.

[spacehopper]

3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?

Thats true.The Securities Commission Malaysia (SC) announce that in 1st week of June.As they started regulating its crypto industry in January,this is a big step.3 exchanges will  Recognized Market Operators (RMOs) to establish and operate digital asset exchanges (DAX) in Malaysia. Malaysia support.why US don't? The main reason US block crypto currency is they have no control over crypto market.They using their political agenda's on crypto market."If they can't control it,they will destroy it"
But they will support Libra.

[localcrypto]

Malaysia formed crypto guidelines for crypto ex changers most of new and upcoming and existing exchangers listed on government website . This is good move for citizens of Malaysia to trade in crypto

[onrise]

I think we will get there gradually because the government cannot keep us quiet for too long as its natural that the will of the people prevails

Each government of their country has different stand on crypto and thus as world is not united on it this is causing some trouble for the people as market is unable to see the direction as if some major countries ban it it will result in the fall in the demand and prices. Its good if more countries legalizes the crypto and btc.

[PDAngel]

Malaysia and US are different country and i think everything depends on the government of the place when it comes crypto decision. But i'm so happy for Malaysian people they are free to use crypto with no hesitation because it is officially approved.