Malaysia to regulate initial coin offerings, cryptocurrency trade

Malaysia to regulate initial coin offerings, cryptocurrency trade

A cryptocurrency mining computer is displayed at a computer mall in Hong Kong
A cryptocurrency mining computer equipped with cooling fans is displayed at a computer mall in Hong Kong, China May 17, 2018. Picture taken May 17, 2018. REUTERS/Bobby Yip/Files

KUALA LUMPUR: Malaysia will regulate initial coin offerings (ICOs) and the trade of cryptocurrencies, the finance minister said in a statement on Monday (Jan 14).

The minister said an order to recognise digital currencies and digital tokens as securities will come into force on Jan 15, under the regulation of the Securities Commission Malaysia.

The commission is expected to launch a framework by end of the first quarter, putting in place "the relevant regulatory requirements for the issuance of ICOs and the trading of digital assets at digital asset exchanges in Malaysia", the finance minister said.

Source: Reuters/aa

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