SITENAME Logo

SC Malaysia publishes regulation for IEOs

Securities Commission Malaysia (SC) has published guidelines for crypto IEOs while banning ICOs.


SC Malaysia publishes regulation for IEOs | BEAMSTART News

Under the new regulation, Malaysia will only allow tokens that meet the strict assessment standards set by SC to be allowed for sale in the country.

To conduct token sales, Malaysia only allows initial exchange offerings (IEOs), so initial coin offerings (ICOs) are now illegal in the country.

For the token issuer, SC requires the company to have one director that is a resident in Malaysia and have a minimum paid capital of 122,000 dollars.

SC said that the new regulation would be implemented after the first semester of 2020.

SC will work with platform operators in assessing eligible issuers during the first phase of the implementation.

BEAMSTART is a Hub for Startup News, Business Networking, and Entrepreneurial Resources. Expand your network, discover new possibilities, and tap into a vast database of resources that can help you go further in your business and career.

 

Download the App

The app for business networking and startup resources. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).