With the Capital Markets and Services Order 2019 (Prescription of Securities) (Digital Currency and Digital Token) in place, digital currencies and tokens have been defined as securities and will be regulated by the SC.
The Order 2019 allows the government to punish those issuing ICOs and operating digital asset exchanges without the SC’s approval with up to 10 years of imprisonment or fines of no less than 10 million Malaysian ringgit.
The full framework of the relevant regulatory requirements for issuing ICOs and trading digital assets at digital asset exchanges in Malaysia will be launched by March this year.
If you have any questions regarding the Malaysian market, please get in touch with Angela Di Rosa, Senior Consultant South East Asia. Contact
