MDEC keen to work with authorities to develop ICO regulations
Malaysia Digital Economy Corporation (MDEC) is looking forward to work closely with the Ministry of Finance (MoF), Securities Commission Malaysia (SC) and other relevant bodies, to help shape comprehensive regulations and guidelines on digital currency trading and initial coin offerings (ICOs), to be released by the end of the first quarter this year.
In a statement, MDEC said it welcomed the move by the MOF to regulate any form of digital asset exchanges or ICO, which will bring much-needed clarity to this nascent space.
"Furthermore, this progressive view of the potential of the blockchain industry is aligned with Malaysia's Industry 4.0 aspirations and will encourage an additional fundraising channel for entrepreneurs and new businesses," it said.