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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

MaGIC’s University Startup Challenge 2020 cultivates aspiring leaders

Malaysian Global Innovation & Creativity Centre (MaGIC)’s University Startup Challenge 2020 (USC) was held virtually from June to October this year, with...

GDB secures single-largest RM1.25 billion contract to complete 8 Conlay

Construction services firm GDB Holdings Berhad has secured its single-largest contract of approximately RM1.25 billion to complete the remaining main building works...

Microsoft Malaysia appoints 2 new additions to leadership team

Microsoft Malaysia has appointed two new additions to its leadership team to further strengthen and accelerate the digital growth of customers in...

Funding Societies Malaysia to collaborate with TM Info-Media to offer business financing solutions to MSMEs

Funding Societies Malaysia, a peer-to-peer (P2P) financing platform in the country and Southeast Asia recently collaborated with TM Info-Media Sdn Bhd (TMIM),...

Monash University approves funding for 7 digital health strategic projects

Monash University Malaysia has approved funding for seven digital health strategic projects totaling more than RM2 million. The Monash University Malaysia ‘Network...

Must read

Revitalise the property market for the benefit of all Malaysians

By Wong Siew Lai, General Manager – Malaysia and General Manager - Marketing & Communications, iProperty.com Malaysia Sdn Bhd

Underemployment anxiety needs to be given serious attention

By Sofea Azahar, It is very unfortunate to witness that the unprecedented twin crisis – health and economic –...

How 5G can help us build the urban future

Sunway Group is leading the way to create smart and sustainable cities with great potential As centres of...

IDEAS Opines Business And Economy Will Be Hampered If Parliament Were To Be Suspended

The Institute for Democracy and Economic Affairs (IDEAS) is troubled by several reports that a state of emergency is expected to be...