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TMT Update: Securities Commission Malaysia Revises Guidelines on Recognized Markets to Regulate Digital Asset Exchanges
In this Technology, Media and Telecommunications Update, we wish to bring to your attention the Guidelines on Recognized Markets, which was revised and issued by the Securities Commission Malaysia ("SC") on 31 January 2019 (the "Revised Guidelines"). This follows the issuance of the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019, which came into force on 15 January 2019.
The Revised Guidelines seek to introduce a new chapter on the requirements to be complied to operate a digital asset exchange ("DAX"), i.e. an electronic platform which facilitates the trading of a digital asset. In light of this, any person who is interested in operating a DAX is required to apply to be registered with the SC as a recognized market operator ("RMO"). This update provides you with a summary of the Revised Guidelines, including the objectives and the key amendments provided therein.
TMT Update: Regulation of Digital Currencies and Digital Tokens in Malaysia - Implementation of the Digital Assets Prescription Order 2019
Further to our recent update regarding the coming into force of the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 (the “Order”), we wish to bring to your attention a recent Media Statement made by the Securities Commission Malaysia (“SC”) on 17 January 2019. This update provides a summary of the media statement made by the SC.
In this Technology, Media and Telecommunications Update, we wish to bring to your attention the Bank Negara Malaysia (“BNM”) Policy Document on Publishing Open Data Using Open API (Application Programming Interface) (the “Policy Document”), which was issued and came into effect on 2 January 2019, following a period for submission of feedback to the Exposure Draft on Publishing Open Data Using Open API (the “Exposure Draft”) published by BNM on 5 September 2018.
This update provides a summary of the Policy Document, the recommendations given by BNM in respect of using Open API, as well as a brief analysis of the key changes in the Policy Document compared to the Exposure Draft.