Regtech/Regulation
BNM Issues e-KYC Exposure Draft for Money Changers
Following the introduction of e-KYC guidelines for remittance companies in 2017, Bank Negara Malaysia issued an exposure draft which expands similar e-KYC guidelines for money changers in Malaysia. The draft outlines proposed mininum requirements and standards that a licensed money
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Why BNM’s Open API Initiative Could Bring Malaysia’s Fintech into a New Era
Bank Negara Malaysia just released a proposed guideline for Open APIs in Malaysia, and is currently seeking feedback from the public. This follows Bank Negara Malaysia’s announcement earlier this year that it would be setting up an implementation group in the first
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Securities Commission Malaysia Welcomes New Applications for ECF and P2P Lending
The Securities Commission Malaysia (SC) has announced that it welcomes new applications for Equity Crowdfunding (ECF) and P2P lending. This follows their previous call for more industry participation during their Annual Report press conference earlier this year. This announcement signals
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Malaysian Fintech Startups are Well-Positioned for Regional Expansion
Amidst rising interest in fintech, startups in this vertical have been dished a rude awakening to abide by tightening guidelines and protocols set by regulatory institutions. Disregarding stricter protocols, such as e-Know Your Customers (e-KYC), could be detrimental to all
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What Is BNM’s ICTF and What Does It Mean For a Cashless Malaysia
Bank Negara Malaysia has issued the Interoperable Credit Transfer Framework (ICTF) on 20th March 2018, which has taken into account feedback received during the public consultation period on the Exposure Draft released on 7 December 2017. This new policy document
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SC and BNM To Joins Forces to Accelerate Digitisation of Stockbroking through BRIDGe
The Securities Commission Malaysia (SC) and Bank Negara (BNM) established the Brokerage Industry Digitisation Group (BRIDGe), a joint working group between regulators and industry to accelerate the digitisation of the stockbroking industry. BRIDGe aims to accelerate the digitisation of the
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Bank Negara Malaysia Issues Cryptocurrency Regulation
Following the public consultation issued by Bank Negara Malaysia in December, the central bank has announced the official cryptocurrency regulation in Malaysia under the policy paper “Anti-Money Laundering and Counter Financing of Terrorism Policy for Digital Currencies (Sector 6)”. The
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Malaysian Regulators: Raising ICOs in Malaysia Could be an Offense
In a joint-statement issued by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC) today, the regulators stated that Initial Coin Offering (ICO) schemes may fall under the jurisdiction of the regulators. Both the regulators warned ICO issuers that carrying
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CopyCashCoin Ordered by Regulator to Cease and Desist in Malaysia
Following earlier reports of the Securities Commission Malaysia’s (SC) query into the CopyCashCoin ICO the regulator has directed CopyCash Foundation to immediately cease and desist all its proposed activities including a purported plan to launch an Initial Coin Offering (ICO)
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Securities Commission Malaysia Regulatory Sandbox Calls for Participation
The Securities Commission Malaysia (SC) today announced that parties interested in establishing and operating an Alternative Trading System (ATS) in Malaysia can apply to participate in the Securities Commission Malaysia regulatory sandbox sessions. The Securities Commission Regulatory sandbox will be
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