Malaysian cryptocurrency regulation comes into effect

The Malaysian cryptocurrency regime will take effect on Tuesday, Reuters reports on Monday, January 14.

Malaysian Finance Minister Lim Guan Eng announced today that the Order of Capital Markets and Services will enter into force on January 15. According to Reuters, the new regulation classifies digital currencies, tokens and crypto assets as securities giving them under the authority of the Securities Commission.

As of Tuesday, anyone carrying out unauthorized initial coin offers (ICOs) or exchanging digital assets in Malaysia must be sentenced to 10 years’ imprisonment and a fine of 10 million euros ($ 2.4 million).

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