SCM Approves its First Cryptocurrency Exchange Operators in Malaysia

The Securities Commission Malaysia (SCM) has granted full approval to Tokenize Malaysia (TM) to operate as a cryptocurrency exchange in the country, following a nine-month probationary period.

According to Malaysian law, following registration with the SCM, local cryptocurrency exchanges have nine months within which to achieve compliance with the SCM’s regulation standards. With this approval, TM will be authorized to operate a digital asset exchange (DAX) and accept clients.

With the introduction of “the Capital Markets and Services Order 2019”, the SCM registered two other exchanges, Luno Malaysia and Sinegy Technologies, to function as cryptocurrency exchanges...