The Securities Commission Malaysia (SC) has just registered crypto exchanges Luno Malaysia, Sinegy Technologies and Tokenize Technology, the commission reported yesterday in a press release.
According to Malaysian law, all cryptocurrency exchanges wishing to operate in the country must be registered with the Securities and Exchange Commission. After registration, they have up to 9 months to comply with the regulator's standards before receiving a full license to operate.
According to local law, operating a crypto exchange without the approval of the SC is an offense under securities laws and a person in breach may be liable to a fine or imprisonment term or both.
Last month it was reported that the SC had ordered several crypto exchanges that were operating in the country without a license to cease their operations and return the funds to investors.
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