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23 Jan 2021

As per the report, the agency has approved at least four digital assets in the nation up until this month. The Securities Commission Malaysia said today it has now registered three recognised market operators, namely Luno Malaysia Sdn Bhd, SINEGY Technologies (M) Sdn Bhd and Tokenize Technology (M) Sdn Bhd, to establish and operate digital asset exchanges in Malaysia. These are intended to regulate initial Curve Dao Token, a $340 million altcoin, edged above other cryptocurrencies to post double-digit gains despite widespread corrections. XRP price plummeted by more than 50% following the announcement. 2 "Digital asset" means an asset that is issued or transferred using distributed ledger or blockchain technology. His "Day One" list of executive actions calls for a review of several Trump-era rules, including Labor's restrictions on ESG investments in 401(k)s. Edelman's RIA Digital Assets Council is bullish on cryptocurrencies as institutions start to pile in. It seems that the SEC is certainly not against broker-dealers’ custody of securities but it requires them to meet certain compliance requirements with respect to the Customer Protection Rule. The new regulations require any digital asset offering to get approval from the Securities Commission. The Commission recognizes that the market for digital asset securities is still new and rapidly evolving. The U.S. Securities and Exchange Commission (SEC) issued a statement and is looking for public comment toward the custody of digital asset securities that have been handled by special purpose broker-dealers. These are intended Malaysian Securities Commission issues revised digital asset guidelines | Crypto News Source The Securities Commission Malaysia has continued to provide clearer guidance to digital asset operators within their jurisdiction. The Securities Commission Malaysia has issued revised guidelines governing digital assets, effective as of Oct. 28. The Securities and Futures Commission (SFC) notes with concern the growing investor interest in gaining exposure to virtual assets via funds and unlicensed trading platform operators in Hong Kong. Any trader identified trying to bypass the law would be subjected to a fine up to US$2.4 million (RM10 million) or a prison sentence of up to 10 years. An entity that buys, sells, or otherwise transacts or is involved in effecting transactions in digital asset securities for customers or its own account is subject to the federal securities laws, and may be required to register with the Commission as a broker-dealer and become a member of and comply with the rules of a self-regulatory organization (“SRO”), which in most cases is FINRA. 3 . We facilitate a vibrant and collaborative environment which generates and protects wealth, and creates value for all. The Securities Commission of Malaysia said the move was designed to support “responsible innovation in the digital asset space, while at the same time managing emerging risks and safeguarding the interests of issuers and investors.” On Wednesday, in a long-awaited move, a division at the U.S. Securities and Exchange Commission (SEC) released a framework for analyzing whether a digital asset is offered and sold as an investment contract, and, therefore, is a security. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. The U.S. Securities and Exchange Commission (SEC) issued a statement and is looking for public comment toward the custody of digital asset securities that have been handled by special purpose broker-dealers. Information on these pages contains forward-looking statements that involve risks and uncertainties. Following the lawsuit, it has directed towards Ripple this week for what it alleges to be unregistered securities offering worth $13.2 billion through XRP token sales, the SEC is […] Karen Barr, president and CEO of the Investment Adviser Association, told ThinkAdvisor in a previous interview that she expects the SEC to release its proposed changes to the custody rule in the first quarter. Advance your career and take your firm's production to the next level with FREE practice-management tips. 26 November 2020. Digital asset custody is a major outstanding regulatory issue, and I appreciate that the SEC is taking steps to allow for further market developments.”, Former RIA Killed Himself After U.S. Capitol Riot Arrest, Bill to Raise RMD Age to 75 Is Coming Back in New Congress, Harry Dent: Market Crash Coming in 2-3 Years; Economy ‘Already Dead’. The Securities and Exchange Commission (SEC) considers cryptocurrencies to be securities since March 2018. This lawsuit could have massive detrimental effects on XRP as it implies the digital asset is a security. 4 The claims against the individual defendants are aiding and abetting violations of Securities Act Sections 5(a) and 5(b). Securitize Markets is approved to assist in the primary issuance of securities, including digital asset securities. The Commission supports innovation in the digital asset securities market to develop its infrastructure. Commission actions and staff statements involving secondary market trading of digital asset securities have generally focused on what activities require registration as a national securities exchange or registration as a broker or dealer, as those terms are defined under the federal securities laws. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Access now! XRP’s price plummeted once more on Wednesday (Dec. 23) following the U.S. Securities and Exchange Commission’s lawsuit contending that the blockchain firm connected to the digital … US SEC Releases Guidelines for Digital Asset Securities as Exchanges Scramble to Delist XRP. The Commission supports innovation in the digital asset securities market to develop its infrastructure. The Securities Commission Malaysia has issued revised guidelines governing digital assets, effective as of Oct. 28. Christmas came early for many in the digital asset community by way of a statement from the U.S. Securities and Exchange Commission (“SEC” or “Commission”) on December 23, 2020 that grants relief in the area of broker “custody” of digital asset securities. Rep. Patrick McHenry, R-N.C., ranking minority member on the House Financial Services Committee, said in a Wednesday statement that he’s “pleased the SEC has taken meaningful action today to support innovation in the digital securities market. 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