Topic: Malaysia approves crypto exchange registration (Read 321 times)
Malaysia and US are different country and i think everything depends on the government of the place when it comes crypto decision. But i'm so happy for Malaysian people they are free to use crypto with no hesitation because it is officially approved.
I think we will get there gradually because the government cannot keep us quiet for too long as its natural that the will of the people prevails
Each government of their country has different stand on crypto and thus as world is not united on it this is causing some trouble for the people as market is unable to see the direction as if some major countries ban it it will result in the fall in the demand and prices. Its good if more countries legalizes the crypto and btc.
Malaysia formed crypto guidelines for crypto ex changers most of new and upcoming and existing exchangers listed on government website . This is good move for citizens of Malaysia to trade in crypto
3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?
Thats true.The Securities Commission Malaysia (SC) announce that in 1st week of June.As they started regulating its crypto industry in January,this is a big step.3 exchanges will Recognized Market Operators (RMOs) to establish and operate digital asset exchanges (DAX) in Malaysia. Malaysia support.why US don't? The main reason US block crypto currency is they have no control over crypto market.They using their political agenda's on crypto market."If they can't control it,they will destroy it"
But they will support Libra.
I think that Malaysia is not a small country. Well, it may relate to certain regulation in each country. The US may have a strict regulation about cryptocurrency. In this case, Many people in Malaysia are interested enough in crypto, and the government also concerns with it because it gives big benefits.
This is the 3 exchanges that have been approved:
But the guidelines are very strict, they categories crypto as securities:
https://www.ccn.com/strict-malaysian-approves-first-3-cryptocurrency-exchanges/
Forget about US though, they are clamping very hard on everything that evolving crypto, so pretty obvious that US won't allow this new revolution to take place in their country.
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The three exchanges registered are Luno Malaysia, Sinegy Technologies, and Tokenize Technology.
But the guidelines are very strict, they categories crypto as securities:
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The SC has also warned that all cryptocurrencies assets will require prior approval before trading on any exchanges. Those who continue to operate unlicensed crypto exchange would risk to RM10 million fine ($2.4 million) and ten years of jail time, or both.
https://www.ccn.com/strict-malaysian-approves-first-3-cryptocurrency-exchanges/
Forget about US though, they are clamping very hard on everything that evolving crypto, so pretty obvious that US won't allow this new revolution to take place in their country.
Malaysia decided to instead ban cryptocurrency exchanges they better allow such a new industry to grow but under a strict environment and every player should be following the regulations otherwise there will be repercussions as provided by the laws of the country. Now, compared to China this might be a better condition because here the business is legal and not done underground. In comparison, one can also do the same business in USA and also under the strict regulations and limitations. I have nothing against so much with the regulations in place because there had been some exchanges which victimized innocent people and so a filtering process should be in place...and this is not just specific with cryptocurrency business actually but also with other entities involved with investment products. Any exchange who desires to do business in any country should pass the eyes of the needle and must always be on their best shape otherwise regulators will do their job of making things more difficult. Everything is a test.
I think we will get there gradually because the government cannot keep us quiet for too long as its natural that the will of the people prevails
I am glad that the norms are being established which the exchange or project must comply with so that they can openly offer their services to users. Of course, many people see this as an attempt by the state to limit the possibilities of decentralized projects. But this is done only in order to protect the rights of these same persons. There are too many scammers in the crypto exchange, so it’s better to see who follows strict rules and who does not want to make an effort to secure their users.
I am aslo glad..people should more focus on bitcoin market... 3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?
US is a vast country and government should protect there citizen to any threat even in monetary situation, investing in crypto as we all know is very risky a lot of scams happen and you could lose everything in just hours, so USA decided that it needs to be regulated. 
3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?
I think the US needs to discuss approving cryptocurrency with its regulations, or they will make regulations to control cryptocurrency. But we don't know why the US only issue regulations against using cryptocurrency than the other country. Besides that, we know that the US is a giant country which needs to discuss with all of the government elements.
But that will be good news for cryptocurrency user, especially for Malaysian cryptocurrency user because they now can use cryptocurrency by free without any worry. I hope that the other Asian countries will follow the previous country which already accepting cryptocurrency so cryptocurrency can grow more than now.
It was a tail move where Malaysia years ago freeze local exchanges account and cause massive withdraw problem for fiat buyers, until these months after the new government there's a different standpoint, Not sure about the details on how to be fully comply with new regulations, most popularly KYC and tax induction for big volume, Neighbor countries like Singapore have countless crypto business standing and there's little concern about the impact to themselves, but i understand US strict regulators acts as leader to deal with so called raising problems among crypto
You can't compare Malaysia government with USA government. They both have different angles of handling issue that concerns their citizen welfare. They (USA)have regulatory bodies to cover every tokenized assets. It's something you cant just decide to do in USA and expect permission immediately without them knowing your aim and vision. Everything in USA takes time and you can't persuade the regulators
3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?
look at the article, it seems to me that the rules that the Malaysian government is imposing on the exchanges are very harsh and disadvantageous for the exchanges, it is not possible that such a large number of exchanges have been obliged to access their operations and consider this as something normal or that all such exchanges that have been ordered to cease operations do not desire comply with the regulations of the Government of Malaysia. It seems to me that the government is choosing the exchange according to its own interest or advantage
3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?
You may be confused here. The US has allowed many exchanges to operate. It is only now that they are imposing stricter rules to deter illegal activities. These exchanges in Malaysia were probably approved because they agreed to be fully compliant with their local laws. 
3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?
I think a country like the US is subject to regulatory regulations from the government. all agreements must be in accordance with regulations and the government supports. if that doesn't happen and there is no support I think like the US will not be able to accept the crypto exchange 
Every country has its own policies and regulations so you just can't say just because Malaysia approves of it United States of America should also approve it. Anyway it's a great idea that and a step in the right direction that Malaysia has open its doors to cryptocurrencies and blockchain startups.
I think the US is just being careful about the illegal things you can do with bitcoin and Malaysia might be also aware of it but they want to regulate things regarding it. But I think this is still good news to the community that a state is approving this kind of things that are related to cryptocurrency.
I am glad to read it...well malaysia and US has different technologies..
South Asia is also a leading market for new startups.. i am happy to know it...
South Asia is also a leading market for new startups.. i am happy to know it...
3 crypto trading platform were officially approved in such small state as malaysia. but why such giant as US only issue regulations against using crypto whereas small malaysia improves it?
That is awesome, malaysian are somewhat welcoming new technologies in their country and crypto,even at the early stage of development is open to be traded in the country. The prime minister is a brilliant and intelligent man and I know that approving the exchanges would benefit the economy.
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