Malaysia’s financial regulator wants feedback from the public about ICOs and crowdfunding regulatory frameworks.
Malaysia News
Malaysia is a federal constitutional monarchy in Southeast Asia with a population of 32 million and an area of 330 kilometers. Malaysia has a recently industrialized market economy with a relatively fast GDP growth and a highly competitive market. Malaysia is considered to be attractive for foreign investments as it has a highly diversified and robust economy. The Malaysian economy is a producer of such export goods as electronic products, petroleum, chemicals, machinery and scientific equipment that are mostly sold to Singapore, China and Japan. The Malaysian government has issued no Bitcoin regulations. Malaysia allows Bitcoin mining and trading with no restrictions. However, the Central Bank of Malaysia issued a statement that Bitcoin is not considered to be legal tender and its users are poorly protected from fraudulent schemes and operational risks.
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by Ana Berman
Malaysian official reveals that one of the country’s states is eyeing launching a blockchain platform for the needs of the agriculture industry.
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Latest partnership is the second blockchain-related announcement from cybersecurity firm WISeKey this week.
- Follow up
Malaysia has given cryptocurrencies the regulatory green light — but they have to adhere to securities laws and will be governed as such.
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Malaysian cryptocurrency regulation comes into effect on Tuesday, classifying crypto-assets as securities.
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The Malaysian government is reportedly still undecided whether or not to legalize cryptocurrencies.
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Authorities are in the process of developing cryptocurrency and ICO rules, which could become law in Q1 2019.
- Analysis
Crypto fundraising might be a great tool to fight corrupt regimes, but what happens when freedom fighters seize power?
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Regulation of both cryptocurrency and ICOs should come into force in Malaysia by the second quarter of next year.
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Malaysia’s finance minister has stated that any entity wishing to issue cryptocurrency must defer to the country’s central bank.
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Malaysian lending giant CIMB Group Holdings Bhd. has signed on to use Ripple’s xCurrent technology for expediting cross-border payments.
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A Malaysian MP has urged the government to wait and develop appropriate regulation before approving the political Harapan Coin cryptocurrency project.
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by Helen Partz
The Ministry of Education of Malaysia is setting up a NEM blockchain-based university consortium to combat degree fraud.
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Malaysia’s Securities Commission has ordered a halt to all promotional activities for local beauty guru’s recently-launched Lavidacoin.
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A Malaysian government advisory committee has signed a MOU to work with a South Korean blockchain lab to develop a halal blockchain platform.
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