Malaysia Officially Registers Three Cryptocurrency Exchanges

Asia Malaysia Regulations

Three crypto exchanges have been registered by Securities Commission Malaysia (SC).

The news comes from the regulator’s press release dated June 4.

The three registered exchanges are Luno Malaysia, Sinegy Technologies and Tokenize Technology. They will now have to comply with the commission’s regulations within nine months.

In a statement for Cointelegrpah, Luno’s General Manager of Southeast Asia David Low said: “We’ve been working closely with regulators and banks to complete the groundwork for the buying, selling and storing of cryptocurrencies and digital assets, which we believe are the future of money. Regulation will ultimately bring clarity and protection to consumers, and will ensure that all cryptocurrency businesses have adequate standards in place to protect investors and their funds.”

Cryptocurrencies were recognized as securities in Malaysia on January 15 in the Securities Commission’s Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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