What are the regulations for cryptocurrency brokers in Malaysia?

3 answers

• Dec 27, 2021 · 3 years ago
  Cryptocurrency brokers in Malaysia are subject to certain regulations to ensure the safety and security of investors. The Securities Commission Malaysia (SC) is the regulatory body responsible for overseeing the cryptocurrency market in the country. Brokers are required to obtain a license from the SC and comply with the guidelines set by the commission. These guidelines include measures to prevent money laundering, fraud, and other illegal activities. Additionally, brokers must adhere to strict customer identification and verification procedures. Failure to comply with these regulations can result in penalties or the revocation of the broker's license.
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• Dec 27, 2021 · 3 years ago
  Cryptocurrency brokers in Malaysia are regulated by the Securities Commission Malaysia (SC). They are required to obtain a license from the SC and comply with the regulatory framework set by the commission. The regulations aim to protect investors and ensure the integrity of the cryptocurrency market. Brokers must implement robust security measures to safeguard customer funds and personal information. They are also required to conduct regular audits and provide transparent financial reports. By complying with these regulations, cryptocurrency brokers can build trust and confidence among investors.
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• Dec 27, 2021 · 3 years ago
  As a third-party cryptocurrency exchange, BYDFi operates in compliance with the regulations set by the Securities Commission Malaysia (SC). We prioritize the safety and security of our users' funds and personal information. Our platform implements advanced security measures, such as two-factor authentication and cold storage for cryptocurrencies. We also conduct regular audits to ensure transparency and compliance with regulatory requirements. BYDFi is committed to providing a reliable and trustworthy trading environment for cryptocurrency enthusiasts in Malaysia.
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