Malaysia

Malaysia Announces Digital Asset Guidelines

</header> <strong>The Securities Commission Malaysia has published the country’s guidelines on digital assets which set out the regulatory framework for token sales. All token offerings must now be carried out only through platforms approved by the commission. The guidelines also detail the obligations of approved platforms as well as the requirements token issuers must meet.</strong> …

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Iran, Turkey, Malaysia Discuss Creating Unified Muslim Cryptocurrency

</header> <strong>At a summit attended by leaders of Muslim countries, including Malaysia, Turkey, Iran, Qatar, and Indonesia, the Iranian president proposed creating a Muslim cryptocurrency to cut reliance on the U.S. dollar. The Malaysian prime minister supports the idea of a unified cryptocurrency for Muslim countries.</strong> Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China …

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Iran Wants to Create Crypto to Confront ‘Economic Hegemony’ of US

Iran’s President has proposed to create a Muslim cryptocurrency as one of a number of means to confront the economic dominance of the United States. Speaking at an Islamic conference in Malaysia on Dec. 19, Iranian President Hassan Rouhani called Muslim nations to strengthen financial and trade cooperation and to cut their reliance on U.S. …

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Malaysian Thieves Drill Through Wall to Steal 85 Crypto Machines

Malaysian authorities have apprehended five men charged with stealing 85 bitcoin machines. The police captured the men in a police raid on November 2. The Sun Daily reports that four men and one woman rented a building in Seremban, Malaysia adjacent to a warehouse storing the bitcoin machines. The five drilled through the concrete wall …

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Malaysia Regulator Approves International Crypto Exchange Luno

</header> <strong>The strict financial regulator in Malaysia is trying to help the local fintech industry scale up and attract new investors. As part of that trend the Malaysia Securities Commission is recognizing the right of cryptocurrency exchanges such as Luno to serve local customers.</strong> Also Read: Credit Suisse Is Latest Bank to Charge Clients for …

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Remittances Partnership to Use Cambodia Central Bank’s Blockchain System

Malayan Banking Bhd (Maybank) has signed a memorandum of understanding (MoU) with the National Bank of Cambodia (NBC) on cross-border payments and remittances. On Oct. 16, Malaysian business news outlet The Edge Markets reported that the largest bank in Malaysia, Maybank, will work together with the National Bank of Cambodia to promote cross-border payments and …

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HSBC Enacts First Letter of Credit on a Blockchain in Malaysia

Major bank HSBC has announced the successful enactment of a letter of credit (LC) on a blockchain in Malaysia. The transaction English language local fintech news outlet Fintech News Malaysia reported the development on Oct. 14, noting that the transaction involved packaging firm Simply Packaging importing resin from an unspecified Singaporean chemicals company. The issuing …

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Xendpay Joins RippleNet to Expand Global Money Transfer Services

Money transfer service Xendpay has joined Ripple’s global transaction network RippleNet to support international transactions. Going beyond the U.S. dollar Ripple announced the news on Aug. 20. Per the announcement, RippleNet will allow Xendpay to provide money transfer services beyond the United States dollar. Xendpay will use Ripple’s pre-existing network of banks and other financial …

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Islamic Finance Expert: ‘Halal Coin’ a Matter of Time and Awareness

The issue of Shariah acceptability of crypto is a matter of time and raising awareness, according to an Islamic finance expert based in Malaysia. Skepticism of crypto stems from uncertainty Suhaida Mahpot, CEO of major Shariah advisory firm Amanie Advisors, suggested that the existing skepticism towards crypto in Islamic countries is not a pure rejection, …

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Wanxiang and PlatON Join Forces for Blockchain Infrastructure of New Smart City in China

Automotive giant China Wanxiang Holding Co., Ltd has partnered with blockchain-based tech firm PlatOn to develop a “smart city” in Hangzhou, according to a report by CryptoNinjas on June 20. According to the report, the smart city—dubbed “Innova City”—will be built with tech using PlatON’s blockchain infrastructure, for purposes like interfacing with city resident ID …

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