On Mar. 6, The Securities Commissions Malaysia (SC) published two consultation papers to seek public feedback on the framework for Initial Coin Offerings (ICOs) and property funding.
As per the press release posted on their website, the regulators proposed two regulatory frameworks – one is for the issuance of the digital asset through ICOs, and the other is for property crowdfunding.
Previously, The Malaysian finance minister, Lim Guan Eng claimed that the ministry considered digital assets as another method for fundraising as well as a fresh asset class for investors.
Both ICOs and crowdfunding are addressed in the aforementioned consultation papers as the official statement went:
“The SC is seeking public feedback on the proposed regulatory framework which will, among others, set the eligibility requirements of first-time homebuyers, criteria of properties which can be listed on the platform, obligations of platform operators and financing limits.”
Earlier this year, Thecryptosight reported that the order to regulate cryptocurrencies in Malaysia had become effective on Jan. 15. The new regulation classified digital currencies, tokens, and crypto-assets as securities, placing them under the Securities Commission’s (SC) authority.