Malaysia Attitude Toward Crypto

Malaysia’s crypto-currency exchanges and blockchain-based companies are facing test times due to regulatory changes in the country. Since January 15, new regulations for cryptocurrencies have come into force in Malaysia. Link Below

https://www.thestar.com.my/business/business-news/2019/01/14/law-on-digital-currency-effective-tuesday-says-guan-eng/

The new regulation is reported to have classified cryptocurrencies, tokens, and crypto assets as securities, meaning that they now fall under the jurisdiction of the Malaysian Securities Commission.

In line with the change, any unauthorized exchange of Cryptocurrency or Initial Mint Offer (ICO) could result in a 10-year prison sentence and $ 2.4 million in fines.

Leave a Reply

Your email address will not be published. Required fields are marked *