Malaysian Regulator Proposes Simpler Crypto Asset Listing Rules
The Securities Commission (SC) of Malaysia has recently unveiled a groundbreaking proposal aimed at simplifying the process of listing crypto assets. The primary objective behind this initiative is to enhance operational efficiency and introduce a layer of governance into the digital asset market.
Streamlined Listing for Enhanced Market Accessibility
Under the proposed framework by the SC, digital asset exchanges would be permitted to list specific cryptocurrencies without the need for prior approval, subject to a predefined set of eligibility criteria. The SC emphasized that this framework strikes a delicate balance between fostering innovation and ensuring accountability.
By streamlining the listing process, Malaysia aspires to not only attract local crypto enterprises but also entice global players, positioning itself as a prominent regional hub for digital assets.
The Growth of Malaysia’s Crypto Market
The Malaysian crypto market has witnessed significant growth, with transactions totaling RM13.9 billion (approximately USD 2.9 billion) in 2024. This surge in activity underscores the increasing importance of regulatory clarity and efficiency in fostering a conducive environment for digital asset trading.
The SC has extended an invitation to stakeholders to provide their feedback on the proposed framework. This collaborative approach is envisioned to not only spur market development but also safeguard the interests of investors, ensuring a robust and secure ecosystem.
Source: Live Bitcoin News
