5 April, 2019
The Securities Commission Malaysia (“SC”) has published its Public Consultation Paper No. 1/2019 (the “Consultation Paper”) to seek public feedback on the formulation of a framework for the issuance of digital assets through initial coin offerings (“ICOs”).
The SC highlights in the Consultation Paper:
- what is an ICO;
- the risk associated with an ICO; and
- its proposed regulatory framework for ICOs, among others, the eligibility of ICO issuers, the need for transparent and adequate disclosures as well as utilisation of proceeds of the ICOs.
Comments from the public on the Consultation Paper are due by 29 March 2019.
For further information, please contact:
Goh Ka Im, Partner, Shearn Delamore & Co
kgoh@shearndelamore.com
