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Malaysia Approves Cryptocurrency Exchange Operator Amid COVID-19 Lockdown

As the whole world move into economic recession through coronavirus pandemic, Malaysia’s Securities Commission has given full approval to a cryptocurrency exchange operator to legally operate in the country despite the nationwide lockdown due to the coronavirus pandemic.

During the lockdown, crypto exchange operator Tokenize Malaysia received full approval from the Securities Commission Malaysia to operate a digital asset exchange (DAX), several local media reported Friday. The platform can now accept clients.

Recall also that Japan also recently approved a new cryptocurrency exchange as the country continues to fight the COVID-19 outbreak.

READ ALSO: World Health Organisation Decries Neglect In Fighting Other Diseases For COVID-19

Suruhanjaya Sekuriti Malaysia, the Securities Commission Malaysia (SC), approved the cryptocurrency exchange despite the current coronavirus pandemic crisis the country is facing.

According to bitcoin.com, the nationwide lockdown has already been extended until at least April 14. By that time, the Malaysian government hopes that aggressive testing will have contained the pandemic.

Referring to the COVID-19 pandemic, Tokenize Malaysia CEO Hong Qi Yu was quoted by Malaysian national news agency Bernama as saying:

”The digital asset industry is by far one of the best equipped and it is business as usual for us as the industry is used to working and communicating effectively across time zones and managing teams remotely.”

Meanwhile, on Suruhanjaya Sekuriti Malaysia’s website, the regulator explained that it has registered three recognized market operators (RMOs) to establish and operate cryptocurrency exchanges in Malaysia.

 

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