Malaysia approves crypto exchange registration

[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.

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[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.