Securities Commission Registers Three Digital Asset Exchanges

The Securities Commission Malaysia (SC) has announced that it has registered
three Recognised Market Operators (RMOs) to establish and operate digital asset
exchanges(DAX) in Malaysia.

The three registered DAX operators are: Luno Malaysia Sdn Bhd, SINEGY
Technologies (M) Sdn Bhd, Tokenize Technology (M) Sdn Bhd.

The SC has given the new RMOs up to nine months to fully comply with all regulatory requirements. The announcement follows the coming into force of the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 on 15 January 2019, and the subsequent issuance of the revised Guidelines on Recognised Markets on 31 January 2019 to introduce new requirements for DAX operators.

DAX operators who have not been approved by the SC are required to cease all
activities immediately and return all monies and assets collected from investors. Operating a DAX without authorisation from the SC is an offence under securities
laws and a person in breach may be liable to a fine or imprisonment term or both.

The SC also advises members of the public to be mindful of the risks related to trading in digital assets, including risks of trading on exchanges that are not registered with the SC.

Members of the public may verify if a digital asset operator is registered with the SC at
https://www.sc.com.my/development/digital/digital assets.

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