22 Crypto Exchanges Now Seeking Approval from Securities Commission Malaysia

Securities Commission Malaysia has unveiled the list of crypto exchanges that have opted to continue operations following its earlier imposed deadline for exchanges to seek regulatory approval by 1st March 2019.

Out of the 42 exchanges who were in the transitional period, only 22 were opted to submit their application to the regulator. These exchanges are allowed to continue operating for another transitional period until further notice from SC.

During this extended transitional period, these platforms are not allowed to accept new investors and will only be allowed to facilitate the withdrawal or transfer of client assets with the written instruction of the investor.

It’s important to also spell out that this 22 exchanges are not approved nor granted any license yet, but are currently pending SC’s approval

The rest of the exchanges who have opted out of operating in Malaysia are instructed by the regulator to return  cease their business and return all clients’ assets by 15 March 2019.

The full list can be found here