KUALA LUMPUR, 22 October 2019 – The Securities Commission (SC) of Malaysia has given full approval to Luno’s application to operate as a Recognized Market Operator (Digital Asset Exchange). Luno is the first cryptocurrency exchange in Malaysia to receive this approval. The SC has confirmed that Luno has satisfied all the required conditions and can now offer Malaysians the opportunity to safely buy, sell and store cryptocurrency on its platform.
“We are extremely grateful to the Securities Commission for confirming Luno as a Recognized Market Operator. It has been a long journey for Luno, from our entry into the Malaysian market in 2015 to us becoming the largest digital asset exchange in 2017, and now being regulated by the Securities Commission. We’ve been working closely with regulators and banks from day one and we’re now excited to be able to provide customers the ability to buy, sell and trade crypto on our platform.”
David Low, General Manager of Southeast Asia
More regulators around the world are providing clarity for cryptocurrency companies to operate either within existing frameworks, or with new licenses. This will help increase trust, weed out most (if not all) of the bad actors, and form the foundation for large-scale institutional money to come into the crypto ecosystem. It will also ensure that approved cryptocurrency businesses have adequate standards in place for the protection of customers and their funds.
Luno is a leading global cryptocurrency company on a mission to upgrade the world to a better financial system. With a team of over 300 and currently has its headquarters in London with regional hubs in Singapore and Cape Town. With over 3 million customers (wallets) spanning over 40 countries, Luno’s products and services make it safe and easy to buy, sell, store and learn about cryptocurrencies like Bitcoin and Ethereum.