RATE Group | Meet the Team Launching a Crypto Exchange During the COVID-19 Pandemic
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Meet the Team Launching a Crypto Exchange During the COVID-19 Pandemic

11 May Meet the Team Launching a Crypto Exchange During the COVID-19 Pandemic

Posted at 02:38h in Cryptocurrency News by

Meet the Team Launching a Crypto Exchange During the COVID-19 Pandemic



by Vincent Fong
May 11, 2020

The cryptocurrency market sure has come a long way from its very tumultuous year of 2019 when the then Finance Minister Lim Guan Eng announced new regulations that meant crypto exchanges operating with prior approval from Securities Commission Malaysia may face RM 10 million in fine or face a ten-year jail sentence.

The new regulation which kicks in a day after the announcement, triggered a rush of players seeking approval from the regulator, of the over 40 exchanges that were identified by the Securities Commission to be operating at that time, 22 applied and a year later we now have 3 cryptocurrency exchanges that are permitted to operate in Malaysia.

Among the 3 exchanges that were approved, only SINEGY is a homegrown company. The company was founded in 2017 in George Town, Penang, by Kelvyn…

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