RATE Group | Finance Regulator, Central Bank Say Cryptocurrency Regulation ‘Being Put in Place’
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Finance Regulator, Central Bank Say Cryptocurrency Regulation ‘Being Put in Place’

07 Dec Finance Regulator, Central Bank Say Cryptocurrency Regulation ‘Being Put in Place’

Posted at 17:43h in Cryptocurrency News by

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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 investor protection.”

Malaysia has slowly enacted a formalized stance on cryptocurrency activities this year. Last month, in addition to revealing the potential deadline, the…

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