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Digital Asset Trading Platform Gets Approval From Securities Regulator of Malaysia

Tokenize Malaysia, a Malaysia-based virtual asset trading firm, has received complete consent from the local securities regulator to operate in the country. Notably, the firm has got the approval following a 9-month long trial phase.

As per the report of local news outlet, SoyaCincau, on 3rd April, Tokenize Xchange, which is the firm’s digital currency trading platform has been granted legal approval and is now being regulated by the Securities Commission (SC) of Malaysia.

It is to be noted that the Malaysian laws necessitates that local virtual currency exchanges register with the Securities Commission, subsequent to which they have up to 9 month to attain compliance with the SC’s required regulation standards.

Remarking on the development, the CEO and CTO at Tokenize Malaysia, Hong Qi Yu mentioned,

“We are now able to go ‘live’ in Malaysia and it is perfect timing – as we have received many interested enquiries from individuals aged 24 to 50 years old who are keen to invest in digital assets.”

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