MDEC to help shape digital assets guidelines

PETALING JAYA: Malaysia has a positive opportunity to be competitive globally in the blockchain space, said the Malaysia Digital Economy Corp (mdec).

MDEC said it looks forward to working closely with the Finance Ministry (MOF), the Securities Commission Malaysia (SC) and other relevant bodies to help shape the comprehensive regulations and guidelines for digital assets by the end of first quarter this year.

MDEC said this will provide greater clarity to the industry especially on the definition of digital assets.

“MDEC welcomes the move by the MOF to regulate any form of digital asset exchanges or initial coin offerings, which is bringing much needed clarity to this nascent space.

“Furthermore, this progressive view of the potential of the blockchain industry is aligned with the Malaysia's Industry 4.0 aspirations, and will encourage an additional fundraising channel for entrepreneurs and new businesses,” MDEC said in a statement today.