SC Ready To Collaborate to Develop Malaysia As Innovative, Responsible Digital Finance Hub

KUALA LUMPUR, Jan 16 (Bernama) -- The Securities Commission Malaysia (SC) is ready to work with all relevant agencies, including Bank Negara Malaysia (BNM) to further develop Malaysia as an innovative and responsible digital finance hub, said SC chairman Datuk Mohammad Faiz Azmi.

He said this following Prime Minister Datuk Seri Anwar Ibrahim’s announcement during his official visit to Abu Dhabi, to explore a digital finance policy that recognises cryptocurrency and blockchain technology. 

In Abu Dhabi, Anwar said Malaysia must embark on a digital transformation within its economic and financial sectors, prioritising areas such as blockchain and cryptocurrency to remain at the forefront of the digital age. 

Anwar has urged relevant agencies, including the SC, the Treasury and BNM, to examine critical areas to ensure Malaysia keeps pace with global developments while maintaining oversight to protect public interests. 

In a statement today, the SC welcomes the announcement, stating that the initiative is in line with the SC’s key priorities to position Malaysia as a key player in the global digital finance landscape, complementing Malaysia’s digital transformation agenda.

Mohammad Faiz said the SC has been actively shaping the regulatory landscape for digital assets, including cryptocurrency, since 2019.

Since then, the regulated digital asset market has comprised a diverse range of players including digital asset exchanges, initial exchange offering operators, fund managers and custody service providers, he added. 

-- BERNAMA