Securities Commission Malaysia Invites Public Comment on ICO and Crowdfunding Regulations

The Securities Commission Malaysia published two consultation papers on March 6 seeking public feedback for proposed frameworks relating to Initial Coin Offerings (ICO) and property crowdfunding.

The ICO paper provides a background for digital assets, explains the role of distributed ledger technology and blockchain, defines what is an ICO, explains its risks and elaborates on the need for regulation. A proposed regulatory framework is also provided along with 11 consultation questions for public comment, to be submitted by March 29.

The property crowdfunding paper provides a background of equity crowdfunding (ECF) and peer-to-peer activities, frameworks and its purpose. A need for regulation is explained and proposed requirements are provided in relation to a platform operator, first time home buyers and those engaging in secondary trading. Six consultation questions for public comment are also included.

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