Summary
- The Securities Commission Malaysia announced that it has proposed regulatory reforms to strengthen the virtual asset exchange framework.
- It was stated that the reforms include listing qualified virtual assets without prior approval, segregated custody of client assets, and introduction of operational control requirements.
- Last year, the volume of virtual asset trading in Malaysia reached USD 2.9 billion, setting a record high.
The Securities Commission Malaysia (SC) has proposed regulatory reforms to strengthen the framework for virtual asset (cryptocurrency) exchanges.
According to Crowdfund Insider on the 1st (local time), the Securities Commission Malaysia proposed regulatory reforms mainly allowing the listing of qualified virtual assets without prior approval in order to enhance the exchange framework. Additionally, the reforms include △ mandatory segregation of client assets △ introduction of operational control requirements for exchanges.
The public consultation period will run from June 30 (local time) to August 11 (local time).
Meanwhile, at the end of last year, the volume of virtual asset trading in Malaysia reached USD 2.9 billion, an all-time high.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
