Kuala Lumpur, 31 January 2019
The Securities Commission Malaysia (SC) today amended its Guidelines on Recognized Markets to introduce new requirements for electronic platforms that facilitate the trading of digital assets.
Under the revised guidelines, any person who is interested in operating a digital asset platform is required to apply to the SC to be registered as a recognized market operator.
“The new framework is part of the SC’s efforts to promote innovation while ensuring investor protection in the trading of digital assets,” said Datuk Syed Zaid Albar, SC Chairman. He added that while there is a framework to facilitate the trading of digital assets, investors are reminded to be mindful of the risks when dealing in digital assets such as sudden price fluctuations and liquidity risks.
The amended guidelines follows the coming into force of the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 on 15 January 2019.
Any person who is interested to operate a digital asset platform, including those operating within the current transitional period, have to submit an application to the SC by 1 March 2019.
The revised guidelines can be accessed at https://www.sc.com.my/regulation/guidelines/recognizedmarkets, while queries can be directed to [email protected]
SECURITIES COMMISSION MALAYSIA
Members of the Media may contact Corporate Affairs Department at 03-62048305 (Lau Mei San), 03-62048265 (Delyana Nordin), 03-62048326 (Teoh El Sen) or fax no.: 03-62015078 or e-mail: [email protected]
The Securities Commission Malaysia (SC), a statutory body reporting to the Minister of Finance, was established under the Securities Commission Act 1993. It is the sole regulatory agency for the regulation and development of capital markets. The SC has direct responsibility for supervising and monitoring the activities of market institutions, including the exchanges and clearing houses, and regulating all persons licensed under the Capital Markets and Services Act 2007. More information about the SC is available on its website at www.sc.com.my. Follow the SC on twitter at @SecComMy for more updates.
Note to Editor:
Separate guidelines on the offering of digital assets via an Initial Coin Offering (ICO) will be issued by end of March 2019.