So today’s hot topic in Malaysia in the blockchain space is not about how the market is doing however it more towards the announcement by the Finance Minister in regards to regulatory matters about funds thru ICOs or “digital currencies”
With this surprise announcement, literally it also places all Crypto exchanges in Malaysia in a chaotic state as there are no clear guidelines set for licensing these exchanges.
The announcement seemed to had come out without proper planning. the announcement was issued out by Ministry of Finance however the executioner would be Securities Commissions and there is no clarity in regulating it.
So in today’s event at Unblock Kuala Lumpur held in KL… It was obvious that the main topic of the day was around ICOs, STOs and how the announcement is effecting the Blockchain scene in Malaysia
I’m sure that the panelist was already expecting these questions however almost all answers would be just speculations.
In the next couple of months, I’m sure there would be more regulatory announcements would be made and guidelines will appear. Let’s hope that it’s for the better and encourage economical growth in Malaysia