The Securities Commission Malaysia (SC) is currently considering a proposal to potentially allow certain cryptocurrencies to be listed on exchanges without requiring prior approval. This move marks a significant step towards embracing the growing popularity of digital assets in the country.

The SC has opened up a public consultation to gather feedback from industry participants and stakeholders on this proposal. The regulator is seeking input on the potential framework for listing cryptocurrencies on exchanges, including the criteria that would need to be met by these digital assets.

This development comes at a time when the cryptocurrency market is gaining more mainstream acceptance and adoption globally. With the increasing interest in digital assets as investment options, regulators around the world are exploring ways to regulate and facilitate the trading of cryptocurrencies in a way that ensures investor protection and market integrity.

By allowing certain cryptocurrencies to be listed on exchanges without prior approval, Malaysia could potentially create a more conducive environment for innovation and investment in the digital asset space. This move could also help boost the country's standing as a hub for fintech and blockchain technology in the region.

It is important to note that while the SC is considering this proposal, the regulator will still maintain oversight of cryptocurrency exchanges to ensure compliance with existing regulations and to safeguard the interests of investors. Any potential framework for listing cryptocurrencies will likely include robust measures to prevent money laundering, fraud, and other illicit activities.

The public consultation initiated by the SC underscores the regulator's commitment to engaging with industry stakeholders and the public to ensure that any regulatory changes are implemented in a way that benefits the market as a whole. By seeking feedback from various parties, the SC aims to gather diverse perspectives and insights that will inform its decision-making process.

Overall, the proposal to allow certain cryptocurrencies to be listed on exchanges without prior approval reflects Malaysia's willingness to adapt to the evolving landscape of digital assets. As the global cryptocurrency market continues to mature, regulatory bodies like the SC are taking proactive steps to create a regulatory framework that balances innovation with investor protection.

As the public consultation progresses and feedback is collected, stakeholders in the cryptocurrency space will be eagerly awaiting further developments to see how Malaysia's approach to regulating digital assets evolves. The outcome of this proposal could have significant implications for the cryptocurrency industry in Malaysia and beyond.

Source: https://cointelegraph.com/news/malaysian-regulator-proposes-pre-approving-cryptocurrencies-for-trading?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound