Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Malaysian government to implement concrete laws on digital currencies

According to a recent report, Malaysia will be enacting laws on digital currencies from 15 January 2019.

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 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.

The rules for the digital currencies will term the currencies and digital tokens or digital asset as securities and will be controlled by the Securities Commission [SC].

The Minister made it clear that these assets and cryptocurrencies will have to be approved by the SC and will have to comply with the relevant laws and regulations to be termed as securities.

He noted that The Ministry of Finance (MOF) views digital assets, as well as its underlying blockchain technologies, as having the potential to bring about innovation in both old and new industries.

The Minister also added that in particular, the government believes that digital assets have a role to play as an alternative fundraising avenue for entrepreneurs and new businesses and an alternative asset class for investors. He informed reporters that the SC will be putting regulatory requirements for the issuance of ICOs and trading of digital assets at digital asset exchanges in Malaysia.

It was noted that any person offering an ICO or operating a digital asset exchange without SC’s approval may be punished, on conviction, with imprisonment not exceeding 10 years and fine not exceeding RM10 million.

The Finance Minister duly noted that it believes that digital assets not only offer an alternative fundraising method, but also a new asset class for investors.

As per the reports, while the Malaysian government was initially indecisive about legalising cryptocurrencies, it eventually did; and it has now laid down regulations for cryptocurrencies which will be in effect very soon. Another report noted that cryptocurrencies, along with digital tokens and crypto-related assets, will be given an entirely different classification.

The report quoted the Malaysian Finance Minister who said the new rules will effectively classify cryptocurrency and assets connected to digital currency as securities. The framework for the new law will be developed by the end of the first quarter of 2019.

The framework will finalize “the relevant regulatory requirements for the issuance of ICOs and the trading of digital assets at digital asset exchanges in Malaysia,” to another article.

Once made law, the Securities Commission Malaysia will be responsible for the regulation of cryptocurrency and related assets. The road to crypto-regulation in Malaysia has been a long one. In September of 2017, it was reported that the governor of Malaysia’s central bank claimed he would issue guidance on the use and regulation of cryptocurrency in the country by the end of 2017. In November 2017, officials from the central bank of Malaysia claimed the country was in the middle of developing a framework to regulate virtual currency. However, the government of Malaysia remains, thus far, undecided about whether to legalize cryptocurrency use in the country


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit