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The financial regulator and the central bank of Malaysia issued a joint declaration of December 6 in which they confirmed that they had "implemented" the legislation on cryptocurrency and initial money supply (ICO).
The Declaration of the Malaysia & # 39; s Securities Commission (SC) and Bank Negara Malaysia (BNM), which follows the comments of senior government officials according to which the regulation of the sector may appear in the first quarter of 2019, also reaffirms the need to respect securities laws when appropriate.
"The Supervisory Committee will regulate digital asset issues through initial coin offerings (ICOs) and trade in digital assets to trade in digital assets in Malaysia," he confirmed.
"There are currently regulations to bring digital resources into the bond laws to promote fair and orderly trade and ensure investor protection."
Malaysia has slowly implemented a formalized position on the cryptocurrency activities this year. Last month, in addition to revealing the potential maturity, the country's finance minister, Lim Guan Eng, also said that anyone who wishes to issue a new resource could do so only with the blessing of BNM.
"I recommend to all parties wishing to introduce the Bitcoin cryptocurrency (style) to refer first to Bank Negara Malaysia, as it is the authority that will issue the decision on the financial mechanism," he said.
Among those who look to developments is a local initiative called "Hope Coin", whose creators may have to wait for the process to be completed before launch.
The moves come on the wake of Thailand, which is about six months in the introductory phase of its regulation.
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