The Securities Commission Malaysia (SC) has registered cryptocurrency exchanges Luno Malaysia, Sinegy Technologies and Tokenize Technology, as was announced in a press release.
In accordance with state law, crypto exchanges must be registered by SC, and newly approved exchanges will take up to nine months to achieve compliance with SC regulatory standards. The above three exchanges are the only registered digital asset exchanges operating in Malaysia. Luno Southeast Asia General Manager David LOW stated:
“We’ve been working closely with regulators and banks to complete the groundwork for the buying, selling and storing of cryptocurrencies and digital assets, which we believe are the future of money. Regulation will ultimately bring clarity and protection to consumers, and will ensure that all cryptocurrency businesses have adequate standards in place to protect investors and their funds.”
Image courtesy of Fintech News Malaysia