Malaysia grants Three digital exchange licenses

The Securities Commission Malaysia (SC) announced this month that it has granted preliminary licenses to three Recognized Market Operators (RMOs) to establish and operate digital asset exchanges (DAX) in Malaysia.

The three registered DAX operators are: Luno Malaysia Sdn Bhd, SINEGY Technologies (M) Sdn Bhd, Tokenize Technology (M) Sdn Bhd. The SC has given the new recognized market operators up to nine months to become fully compliant with all regulatory requirements.

The announcement 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, and the subsequent issuance of the revised Guidelines on Recognized Markets on 31 January 2019 to introduce new requirements for DAX operators.