According to what was reported by Bernama, the country’s Ministry of Finance, Lim Guan Eng, declared today, January 14th, that ICOs and cryptocurrencies will be regulated by the Security Commission Malaysia (SC) as securities.
This regulation will enter into force tomorrow, January 15th.
Lim Guan Eng explained today
“The offering of such instruments, as well as its associated activities, will require authorisation from the SC and need to comply with the relevant securities laws and regulations“.
Essentially, according to this report, Malaysia believes that cryptocurrencies are comparable to equities and must therefore be subject to the control of the relevant body.
The Security Commission Malaysia will launch a framework by the end of the first quarter of 2019 to establish “the relevant regulatory requirements for the issuance of ICOs and the trading of digital assets at digital asset exchanges in Malaysia“.