Cryptocurrency

14/01/19 10:31 UTC-4

Regulation of cryptocurrency in Malaysia for the classification of digital assets and tokens

Malaysian Finance Minister Lim Guan Eng today announced that the OrderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details
on the Regulation of New Regulation of Crypto-Markets in 2019 will come into force on January 15. The new position classifies digital currencies, tokens and crypto-assets as securities, placing them under the authority of the securities commission.

Starting on Tuesday (1/15/19), any representative carrying out unauthorized transfers of coins or operations with digital asset exchanges in Malaysia will be sentenced to 10 years in prison and fined $ 2.4 million.

 

Forecasts and opinions of the Ministry of Finance

According to the Malaysian news publication The Star, Eng noted the positive outlook of the Ministry of Finance regarding the cryptocurrency industry, saying: "The Ministry of Finance considers digital assets, as well as underlying blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
technologies, as having the potential to introduce innovations in both old and new industries."

Eng also said: "The ministry believes that digital assets offer both an alternative method of raising funds and a new asset class for investors."

Editor: Pereyidenko Ihor

See also: "Analysts say that the resumption of inactive Bitcoin wallets may lead to higher prices"

#Regulation #cryptocurrency #Malaysia #MinistryofFinance

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