Tagged: malaysia

Ethis Group Comments on Receipt of Islamic Equity Crowdfunding License in Malaysia

Announced last week, the Securities Commission Malaysia revealed updated regulations as well as the approval of 8 new “Regulated Market Operators” serving the investment crowdfunding – peer to peer financing market. Included in the list of approved platforms of the first Islamic Equity Crowdfunding license,… Read More

Malaysia Updates Crowdfunding Framework, Securities Commission Malaysia Affirms its Support for Fintech

The Securities Commission Malaysia (SC) has updated crowdfunding rules to better fit the emerging market of online capital formation while announcing the approval of multiple new platforms targeting different sectors of digital finance. During a routable organized by the SC which included the participation of… Read More

Malaysia Proposes Healthier ICO Framework That Also Shows Signs of Naivete

Citing a “growing interest” amongst the public in “blockchain-based digital assets,” the Malaysia Securities Commission has issued a proposed regulatory framework for the issuance of ICO’s (initial coin offerings) and is asking for the public’s feedback. The proposal actually contains many cogent suggestions that improve… Read More

Consultation: Malaysia Seeks Feedback on Proposed ICO Framework

The Securities Commission Malaysia (SC) has published a consultation on a framework for Initial Coin Offerings (ICOs). The SC is one of many financial regulators that are seeking to better understand digital assets while investigating potential regulatory environments to create an effective ecosystem. The SC… Read More

Securities Commission Malaysia Discusses 2018 Annual Report & Plans for Capital Market Ecosystem, Alternative Funding Raises USD $197.7 Million

According to the Securities Commission Malaysia in conjunction with the release of its 2018 Annual Report, the Malaysian capital market continued to play a key role in financing the economy against a backdrop of challenging global market conditions. “Though occasionally tempered by uncertainties stemming from rising… Read More

Securities Commission Malaysia Announces Guidelines for Trading of Digital Assets, ICOs to Follow in March

The Securities Commission Malaysia (SC) has updated their “Guidelines on Recognized Markets” to facilitate the trading of digital assets. The Securities Commission Malaysia has a reputation as being forward thinking when it comes to innovative financial services and is recognized for its encouragement of Fintech in… Read More

Fintech Supercharger Teams Up with Asia Pacific University on Fintech Degree

Hong Kong-based Fintech Supercharger accelerator has partnered with the Asia Pacific University of Technology & Innovation (APU) located in Kuala Lumpur. Starting in the first quarter of 2019, prospective students may enroll for a Bachelor’s in Banking and Finance with a specialism in Fintech. Supercharger says… Read More

Malaysian Finance Minister: Crypto Projects Must Seek Permission from Central Bank

Like many countries in Asia and elsewhere, Malaysia has had it share of crypto scandals and similar amounts of legislator reticence around explicitly regulating the sector. Yesterday, however, Malaysian Finance Minister Lim Guan Eng broke rank and told fellow parliamentarians Monday that the public/private sector should refrain… Read More

Malaysian MP: Sector Regulations Needed Before Government Approves “World’s First Crypto-Politic ICO”

Fahmi Fadzil, a Malaysian MP and the Communications Director for the Malaysian centre-left coalition party PKR, has urged the government of Malaysia to establish proper regulation of cryptocurrencies before it approves “Harapan Coin- the world’s first crypto-politic ICO,”  The Star Online reports. Fahmi reportedly told reporters… Read More

Singapore Private Investment Platform Fundnel Announces Expansion Into Malaysia

Singapore-based private investment platform Fundnel announced on Thursday it has officially expanded into Malaysia. According to Fundnel, the launch was officiated by Norhizam Abdul Kadir, Vice President, Growth Ecosystem Development of Malaysia Digital Economy Corporation (MDEC) at a private event in the city center. Fundnel reported that Fundnel Malaysia will… Read More

Malaysia Adds Property Crowdfunding, Digital Tokens & Exchanges as Key Budget Priorities for 2019

In the 2019 budget speech by the Malaysia Minister of Finance, YB Tuan Lim Guan Eng, the government introduced capital market measures designed to reinforce the role of tech in driving the economy. Lim explained: “We need to create an environment for our human talent… Read More

Malaysian P2P Financing Startup Fundaztic Secures RM3 Million in Less Than An Hour Through Crowdfunding Platform pitchIN

Fundaztic, a Malaysia-based peer-to-peer financing startup, reportedly secured RM3 million (approximately US$722,000) in 38 minutes on crowdfunding platform, pitchIN. Nearly 65 investors invested through the round, which was launched on October 17th. Founded in 2016, Fundaztic stated it is on a mission to provide insights and knowledge on crowdfunding… Read More

Securities Commission Malaysia Orders Immediate Halt to LavidaCoin Initial Coin Offering

Following a notice from Securities Commission Malaysia last week that LavidaCoin may be in breach of securities law, the Commission has issued a notice for LavidaCoin to immediately halt the initial coin offering (ICO). Securities Commission Malaysia stated the promoter must cease all activities regarding… Read More

Securities Commission Malaysia Reviews LavidaCoin ICO for Possible Breach of Securities Laws, Project Seeks $1.5 Billion

LavidaCoin: “Step Mother of Coin” The Securities Commission Malaysia (SC) has issued a statement on the initial coin offering (ICO) “LavidaCoin.” According to a report in the Independent, the cryptocurrency is the creation of a controversial Malaysia socialite who is well known in the country… Read More

Brief: Securities Commission Malaysia Tells Lendingstar to Cease All Activities Immediately

The Securities Commission Malaysia (SC) has directed Lendingstar Malaysia Sdn Bhd to cease all its activities, pronto, effective today. The SC directive was initially issued on 23 July 2018 after an inquiry found that Lendingstar is not registered to operate a recognized market and is providing… Read More

Securities Commission Malaysia Invites Applications for Crowdfunding and Peer to Peer Lending Operators

The Securities Commission Malaysia (SC) is inviting interested parties to apply to operate investment crowdfunding platforms and peer to peer lending sites. SC states that applicants may submit their applications for registration now with a deadline of September 7th, 2018. As at June 2018, the… Read More

In the Money! Jirnexu Nabs US$11M to Spend Toward Growth

Jirnexu is in the money, as the old song goes. The Kuala Lumpur-based financial services provider has nabbed US$11 million in a Series B finding round led by SBI Group and new investor SIG Asia Investments, according to Tech in Asia. The new funding will be… Read More

Circle International Forms Partnership With Lakala to Facilitate Cross Border Payments Between Malaysia & China

On Monday, Circle International announced it has formed a partnership with payment gateway platform Lakala to facilitate cross border payments between Malaysia and China.  While sharing details about the partnership, CEO and Founder of Circle, Dato’ Brian Tan, stated: “Through the partnership with Lakala, Circle International… Read More

Wemerge Announces New Blockchain Incubator

Wemerge Ventures Ltd, a Blockchain project that brings together entrepreneurs, angel investors, blockchain experts and top management with MNC experience from the US, China, India, Lithuania, Australia, Singapore and Malaysia, has launched a community blockchain incubator. During an event in Malaysia, the group announced their… Read More

The Central Bank of Malaysia Publishes Policy Document on Digital Currencies Regarding Anti-Money Laundering & Counter Financing of Terrorism

Bank Negara Malaysia (the central bank of Malaysia) has published an Anti-Money Laundering and Counter Financing of Terrorism Policy for Digital Currencies. The document sets out the minimum requirements that a reporting institution must observe to increase the transparency of activities relating to digital currencies, such… Read More

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