Malaysian government announces cryptographic-regulation for the first quarter of 2019

the Malaysia's Finance Minister, Lim Guan has Closely confirmed by extensive regulations for dealing with crypto-currencies and ICOs. The Malaysian news site The Star reported, is expected to enter the regulation in the first quarter of 2019.

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30. November 2018 share Facebook Twitter LinkedIn xing mail

Had pointed out the Southeast Asian country formerly rather on the hazards associated with crypto-currencies, wants to meet Malaysia's government to the subject from now on, proactively.

To the news page of New Straits Time (NST) stressed the Minister of Finance of the country, that his government crypto-negative Assets per se. This would have to be the "object of regulation". Furthermore, companies that want to operate in the crypto field have to coordinate first with the Malaysian based Bank Negara Bank.

many scammers exist in the young market of projects, is justified by this edition of all in the protection of investors. "Even if some Stakeholders are still skeptical, there can be no doubt that we need appropriate regulations in order to protect the interests of investors," he said during a presentation at a Malaysian FinTech conference.

Malaysia has an open attitude towards contemporary forms of financing such as Crowdfunding, however, is also a participation in an Equity-Crowdfunding-Fund. Malaysia government provides around twelve million Malaysian Ringgit (2,53 million euros) for the financing of young FinTech companies. This sum corresponds approximately to a quarter of the entire Fund volume.

"We are interested in the further development of such alternative ways of financing for the [FinTech company] about the traditional ways of financing,"

Minister Lim said.

the state of crypto currency is planned

The crypto-friendly attitude of the Malaysian state manifests itself also in the efforts to launch a national crypto-currency. How the NST reported that the design for the so-called Harapan Coin in the drawer of the Minister for Federal territories, Khalid Abdul Samad. An introduction only to the approval of the heads of government would be, at this stage, Mahathir bin Mohamad Do.

Until then, could the newspaper report, but some time into the country.