Malaysia will be putting into effect the laws on digital currencies from January 15, Tuesday. As per the laws, any person involved in operating unauthorized Initial Coin Offerings [ICOs] or any digital asset exchange will face a 10-year jail term and will have to pay RM 10 million in fine.
This announcement was made by the Malaysian Finance Minister, Lim Guan Eng, on January 14 after the Capital Markets and Services [Prescription of Securities] [Digital Currency and Digital Token] Order 2019. The Finance Minister also said that the framework will be in place by the end of the first quarter of 2019.
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