RATE Group | Malaysia Set to Enforce Cryptocurrency Regulations in Q1 2019, Says Finance Minister
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Malaysia Set to Enforce Cryptocurrency Regulations in Q1 2019, Says Finance Minister

30 Nov Malaysia Set to Enforce Cryptocurrency Regulations in Q1 2019, Says Finance Minister

Posted at 10:43h in Cryptocurrency News by

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Malaysia’s Finance Minister announced that the country would enforce regulations for cryptocurrency exchanges and ICOs in the Q1 2019.

Cryptocurrency Regulations to Come in Q1 2019

According to The Star Online, Lim Guan Eng, Malaysia’s Finance Minister, revealed that regulations guiding virtual currency exchanges and initial coin offerings (ICO) would be implemented in the first quarter of 2019.

Speaking at the Fintech Conference 2018 organized by the Securities Commission (SC), Guan Eng stated that the regulations are part of the SC’s efforts to expedite other means of fundraising and investment in a new asset.

The Finance Minister also said some groups were undoubtedly skeptical of the virtual currency industry. However, it was necessary to lay down regulations for virtual currency exchanges and ICOs and enforce them, to protect investors.

Furthermore, Guan Eng stated that Malaysia’s central bank, the Bank Negara Malaysia and the SC formulated the regulatory framework….

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