Luno Is The First Cryptocurrency Exchange to Receive Full Approval in Malaysia
by Vincent Fong October 22, 2019The Securities Commission of Malaysia has given full approval to Luno’s application to operate as a Recognized Market Operator (Digital Asset Exchange).
Luno is the first cryptocurrency exchange in Malaysia to receive this approval. The regulator has confirmed that Luno has satisfied all the required conditions and can now offer Malaysians the opportunity to buy, sell and store cryptocurrency on its platform.
“We are extremely grateful to the Securities Commission for confirming Luno as a Recognized Market Operator. It has been a long journey for Luno, from our entry into the Malaysian market in 2015 to us becoming the largest digital asset exchange in 2017, and now being regulated by the Securities Commission. We’ve been working closely with regulators and banks from day one and we’re now excited to be able to provide customers the ability to buy, sell and trade crypto on our platform,” said David Low, General Manager of Southeast Asia.
In June 2019, Luno was among the first 3 cryptocurrency exchanges in Malaysia to be granted a conditional approval by the regulator Tokenize and SINEGY.
All operators are granted 9 months to be fully compliant to all regulatory requirements form the date of the conditional approval. Based on the timeline, announcements from the other two operators should come no later than February 2020.
