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Malaysia’s Securities Commission Plans To Extend Crypto Regulations to Wallet Providers

Lily Yang

Summary: Announced by Securities Commission (SC) Malaysia on Thursday, a regulatory framework for wallet providers will be merged into its digital asset legislation—“Digital Assets Guidelines”— in the near future. Cryptocurrency wallet providers are those who provide custody or storage services on account of their owners. In the announcement, SC is seeking industry feedback on the regulatory ...

Announced by Securities Commission (SC) Malaysia on Thursday, a regulatory framework for wallet providers will be merged into its digital asset legislation—“Digital Assets Guidelines”— in the near future.

Cryptocurrency wallet providers are those who provide custody or storage services on account of their owners. In the announcement, SC is seeking industry feedback on the regulatory framework and asking existing wallet providers to contact SC earlier than August 14, 2020.

By Lily Yang