RATE Group | Malaysia Regulators to Intensify Scrutiny of ICOs, Cryptocurrencies
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Malaysia Regulators to Intensify Scrutiny of ICOs, Cryptocurrencies

09 Dec Malaysia Regulators to Intensify Scrutiny of ICOs, Cryptocurrencies

Posted at 02:16h in Cryptocurrency News by

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Malaysian Financial Regulators to Intensify Scrutiny of ICOs, Cryptocurrencies

Economy & Regulation

Malaysia’s securities regulator and central bank are to strengthen their scrutiny of initial coin offerings (ICOs) through new rules meant to eliminate issues of unfair trade practices and alleged risk of money laundering and terrorism financing. The Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM) said they will also tighten regulation in the trade of cryptocurrencies to boost investor security.

Also read: Brazilian Bitcoin Exchange Sends User $35M in Bug-Induced Error

‘Fair and Orderly Trading’

“The SC will regulate issuances of digital assets via ICOs and the trading of digital assets at digital asset exchanges in Malaysia,” the regulators said in a joint statement released Dec. 6. “Regulations are…

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