EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Sunday, July 3, 2022
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription
Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

Guidelines on digital assets come into force

by moneycompass
October 30, 2020
in Local Market News
With Malaysia's capital market expected to benefit from the expected domestic economy recovery, Securities Commission Malaysia (SC) feels it is critical for stakeholders to align their focus and assess impacts of strategies that would best suit the market needs.
Share on FacebookShare on WhatsApp

KUALA LUMPUR – The Securities Commission Malaysia (SC) has revised its Guidelines on Digital Assets
(Guidelines), which came into force on 28 October to regulate Initial Exchange Offerings (IEO) and Digital Asset Custodians (DAC).

The Guidelines will facilitate the SC’s objectives in promoting responsible innovation in the digital asset space, while at the same time managing emerging risks and safeguarding the interests of issuers and investors.

Earlier in January 2020, the SC had announced a framework to enable companies to raise funds via the issuance of digital tokens in Malaysia through an IEO platform registered by the SC.

Under the Guidelines, IEO platform operators will be required to assess and conduct the necessary due diligence on the issuer, review the issuer’s proposal and the disclosures in the white paper, and assess the  issuer’s ability to comply with the requirements of the Guidelines and the SC’s Guidelines on Prevention of Money Laundering and Terrorism Financing.

The Guidelines also include rules and regulations on DAC to facilitate interested parties who wish to provide custody services for digital assets.

Digital asset custodians play an important role within the digital asset  ecosystem of the Malaysian capital market to safeguard digital assets of investors. Application and queries  related to DAC can be directed to [email protected]

The SC would like to remind members of the public that they are not permitted to offer, issue or distribute any  digital assets in Malaysia without obtaining a registration or authorisation from the SC.

Any person found to be operating a digital exchange or offering or distributing any digital assets without the SC’s authorisation  commits an offence and may be liable, on conviction, to a fine not exceeding ten million ringgit or  imprisonment for a term not exceeding ten years or both.

 

Read more: SC to facilitate distribution of capital market products via e- services platform

Tags: digital assetsSecurities Commission Malaysia
ShareSendShareSendTweetShare
Previous Post

Bank launches ‘FUN-nancial’ guide to equip young Malaysians with financial fundamentals

Next Post

Investment bank acquires stake in Malaysia’s largest money services business operator

Related Posts

Malaysian businesses show optimism about their outlook for the second quarter of 2022 (Q2 2022, according to a survey.
Local Market News

Malaysian businesses optimistic of Q2 outlook despite headwinds

30 Jun 2022
The World Bank believes that subsidies should be targeted, and hence applauds Malaysia's move to evaluate its fuel and cooking oil subsidy systems.
Local Market News

Subsidies to reach RM80 billion for 2022, highest in history – Finance Minister

27 Jun 2022
AmBank Research is anticipating that Bank Negara Malaysia (BNM) will hike the overnight policy rate (OPR) by 50 basis points its upcoming Monetary Policy Committee meeting in July.
Local Market News

AmBank Research expects OPR hike to 2.5% in BNM July meeting

27 Jun 2022

Discussion about this post

MOST POPULAR

  • 18 Thailand Companies and Entrepreneurs Win Coveted Asia Pacific Enterprise Awards 2022 Thailand

    0 shares
    Share 0 Tweet 0
  • Over 10,000 cyber security incidents reported in Malaysia in 2021 – KPMG

    0 shares
    Share 0 Tweet 0
  • How to Start Trading on the Malaysian Stock Market

    5 shares
    Share 5 Tweet 0
  • Vinda Group Establishes New SEA Regional Headquarters

    4 shares
    Share 4 Tweet 0
  • MYDIN MOHAMED HOLDINGS BERHAD

    3 shares
    Share 3 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER