Malaysia works on regulations for cryptocurrencies

The Central Bank of Malaysia, together with a group of financial regulators, announced that they are working on the creation of legislation covering cryptocurrencies.

This news, revealed by the Malaysia’s Securities Commission (SC) and Bank Negara Malaysia (BNM), comes after some comments made by a government official, who explained that regulations for this sector would come in the first quarter of 2019.

“The Malaysia’s Securities Commission will regulate the issuance of digital assets through Initial Coin Offerings (ICOs) and the trading of cryptocurrencies in the corresponding exchange houses in Malaysia. Thus, the regulations are in the development stage to make digital coins comply with securities laws and promote fair trading and ensure the protection of investors,” the official explained.

This confirms Malaysia’s position with respect to the activities of cryptoactives. Last month, in addition to revealing a potential date for publishing these regulations, Finance Minister Lim Guan Eng also commented that anyone could issue a new digital currency.

K. Tovar

Source: Coincrispy

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