Malaysia: Adopted SCM Guidelines on Digital Assets

On 28 October 2020, the Securities Commission Malaysia (SCM) adopted the Guidelines on Digital Assets pursuant to section 377 of the Capital Markets and Services Act 2007 (CMSA). These Guidelines mandate registration for issuers seeking to raise funds through digital token offerings, individuals aiming to operate Initial Exchange Offering (IEO) platforms, and digital asset custodians in Malaysia. The move aims to regulate digital payment providers, including cryptocurrencies, and e-commerce platform intermediaries, ensuring safekeeping and custody of digital assets for others.