Securities Commission conditionally approves Luno as recognised market operator

It’s a long time coming, but Malaysian crypto exchange Luno Malaysia Sdn Bhd (“Luno”) is a step closer to becoming a Recognised Market Operator. In a blog post, Luno revealed that the Securities Commission (SC) of Malaysia has conditionally approved the company’s application as a Recognised Market Operator (Digital Asset Exchange). Some believe that cryptocurrency, based on blockchain technology, is the future of money. The dramatic rise (and fall) of cryptocurrencies like Bitcoin and Ethereum have made investors and industry players both excited and wary. We’ve also seen the rise of crypto exchanges or digital asset exchanges that allow investors to buy, sell and store cryptocurrencies. Countries around the world have taken steps to regulate cryptocurrencies and crypto exchanges, and Malaysian authorities are doing the same. Luno is one of three crypto exchanges to receive conditional approval from the SC joining SINEGY Technologies (M) Sdn Bhd, and Tokenize Technology (M) Sdn Bhd. These three operators are given up to nine months to fully comply with all regulatory requirements prior to receiving a full license.