INSUBCONTINENT EXCLUSIVE:
The Securities Commission Malaysia (SC) is seeking public feedback on a proposal that would allow cryptocurrency exchanges to list certain
digital assets without first obtaining explicit approval from the regulator.According to a Monday announcement, the regulator is considering
liberalizing the framework for listing some digital assets on exchanges
hold the exchange accountable for its decision to list a specific asset
The listed digital assets must have undergone security audits with publicly available results, and they must have been traded for at least
Source: Securities CommissionRelated: Malaysia launches Digital Asset Hub to test stablecoin, programmable moneyWhich assets may be
approved?The SC is also seeking industry input on whether certain types of assets, which it views as higher risk, should be permitted for
certain digital assets appeal to individuals involved in unlawful conduct which may result in the increased risk of money laundering and
tightenedThe SC also proposed a reworking of the requirements for client asset security and governance
Digital exchange operators would be subject to more stringent rules, including requirements for the segregation of user assets.Crypto
exchanges would also need to meet new minimum financial criteria, including policies and procedures to mitigate the risk of loss or misuse
of user funds and to facilitate repayment in the event of insolvency
Under the new rules, those institutions would also be required to identify a senior management member residing in Malaysia to be responsible
to engage a custodian registered with the SC to provide its services.Magazine: North Korea crypto hackers tap ChatGPT, Malaysia road money
