Malaysia: Adopted SCM Guidelines on Recognised Markets

On 11 December 2015, the Securities Commission Malaysia (SCM) adopted the Guidelines on Recognised Markets, as required by the Capital Markets and Services Act 2007. The guidelines introduce registration requirements for Recognized Market Operators (RMOs) that facilitate the trading of digital assets, including cryptocurrencies, and define the obligations of such RMOs. The guidelines further mandate that an RMO must submit an annual compliance report, its latest audited financial statements within three months after the close of each financial year, and any other information required by the SCM for the purpose of administering securities laws.