Three Cryptocurrency Exchanges Are Approved By SC Of Malaysia

The cryptocurrency exchanges Luno Malaysia, Sinegy Technologies and Tokenize Technology are approved by Securities Commission (SC) Malaysia reported on 4 June 2019.

According to the law of Malaysia, all new cryptocurrency exchanges need to register with the securities commission Malaysia in order to run their business legally environment.

All approved exchanges have a maximum of 9 months in order to get compliance with the Securities Commission’s regulation standards.

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. The 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.

– Luno General Manager of Southeast Asia, David Low 

On Fifteen January 2019, The Securities Commission Malaysia announced to introduce the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order, and on January 31 its followed by revising the Recognized Markets Guidelines.

Previously, the Supreme Court Of Israel announced that the crypto exchange Bits of Gold can continue to use their account in the Leumi Bank reported on 3 June 2019.

Also Read: How to Earn Bitcoin? 13 Different Ways to Earn Bitcoin Free