Malaysia Strictly Admitted Virtual Currency Exchange, First 3 Virtualized Currency Exchange Approved

Malaysia's Securities Commission (SC) approved three virtual currency exchanges for the first time and set a nine-month intensive monitoring period.

The exchanges approved by Malaysia's SC this time are Reno Malaysia, Sizzy Technologies and Talk Nays Technology. The aforementioned exchanges are the first and only ones legally registered exchange in Malaysia.

Malaysia is currently one of Southeast Asian countries that do not have a clear view on whether digital currencies are legal or illegal, but legal sanctions are strict.

Regulations by the Securities Commission (SC) are strict and direct and virtual currency exchanges that are not approved by the SC must immediately cease all activities and return all funds and assets collected from investors.

Local reports have shown that 19 virtual currency exchanges have applied for registration so far, but have not yet been approved. The SC had ordered their exchanges to be shut down by June 1st.

Malaysia's SC (Security Council) warned that all virtual currencies need prior approval before they begin operations and operating unauthorized virtual currency exchanges could result in a fine of 10 million ringgit ($2.4 million) or imprisonment of up to 10 years.

Reporter Shinwon Kim (news@dailycoinews.com)의 기사 더 보기

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