Amidst the COVID-19 rampage, Malaysia’s cryptocurrency exchange acquired necessary government approvals to provide some news of rejoicing and relief.
Crypto exchanges are accepted in the lockdown context
Per the latest developments in the crypto space, there have been some signs of sanity being witnessed in the eastern hemisphere, as the Security Commission of Malaysia has now allowed cryptocurrency exchanges to operate in the country amid the coronavirus crisis legally. Japan has also approved a new cryptocurrency exchange reportedly.
Suruhanjaya Sekuriti, the Malaysian Security Commission (SC) has reportedly approved the Malaysia cryptocurrency exchange despite the present prevailing pandemic in the country. The lockdown in Malaysia has been extended up to April 14. The government is positive that, until that time, aggressive testing would contain the pandemic.
Three Malaysia cryptocurrency exchange to launch amidst lockdown?
Amidst the lockdown, Tokenize Malaysia, the crypto exchange operator has received complete approval from the Securities Commission Malaysia to operate a digital asset exchange (DAX) fully; thereby, now the platform could accept clients. The three cryptocurrency exchange operators that received the approval from 23 crypto exchanges are, namely: Sinegy Technologies, Luno Malaysia, and Tokenize Technology.
Hong Qi Yu, the CEO of Tokenize Malaysia in this regard, stated that by far, the digital industry is one of the most equipped, and this is business. The sector is efficiently working and communicating across time-zones, and the teams are being managed remotely.
On the official Suruhanjaya Sekuriti website, the regulator stated that the Security Commission had registered the three recognized market operators (RMOs). These RMOs can now establish and digital currency exchanges in the country.
This development was followed by the implementation of “Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019” on January 15, 2019, which was designed to regulate DAX operators.
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