Malaysia: Finance Regulator, Central Bank Say Cryptocurrency Regulation ‘Being Put in Place’
Authorities are in the process of developing cryptocurrency and ICO rules, which could become law in Q1 2019.
Malaysia’s finance regulator and central bank issued a joint press statement Dec. 6 in which they confirmed they were “putting in place” legislation on cryptocurrency and Initial Coin Offering (ICO) assets.
The statement from the Malaysia’s Securities Commission (SC) and Bank Negara Malaysia (BNM), which follows comments from senior government official that regulation of the sector could appear in Q1 2019, also reiterates the need comply with securities laws where appropriate.
“The SC will regulate issuances of digital assets via initial coin offerings (ICO) and the trading of digital assets at digital asset exchanges in Malaysia,” it confirmed.
“Regulations are currently being put in place to bring digital assets within the remit of securities laws to promote fair and orderly trading and ensure…
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