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Malaysia Looks to Tie Token Offerings to Exchanges

News Following the US SEC’s investor alert against Initial Exchange Offerings (IEO’s), Malaysia’s regulator has published a regulatory guide requiring token offerings in the country be attached to exchanges. A breakdown of Malaysia IEOsA report from Malaysia’s Securities Commission (SC) makes clea..

Iran Wants to Create Crypto to Confront ‘Economic Hegemony’ of US

News Iran’s President has proposed to create a Muslim cryptocurrency as one of a number of means to confront the economic dominance of the United States. Speaking at an Islamic conference in Malaysia on Dec. 19, Iranian President Hassan Rouhani called Muslim nations to strengthen financial and tra..

Malaysia to Impose Cash Transaction Limit of $6K in 2020: Report

News Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting ..

Remittances Partnership to Use Cambodia Central Bank’s Blockchain System

News Malayan Banking Bhd (Maybank) has signed a memorandum of understanding (MoU) with the National Bank of Cambodia (NBC) on cross-border payments and remittances. On Oct. 16, Malaysian business news outlet The Edge Markets reported that the largest bank in Malaysia, Maybank, will work together w..

Major Singapore Bank Completes First DLT Trade Financing Transaction

News A Singaporean banking branch of CIMB Group, one of the largest Asian investment banks, has completed its first blockchain-based trade financing transaction. The transaction was processed using a blockchain and Internet of Things (IoT) platform developed by local trade financing firm iTrust Tr..

HSBC Enacts First Letter of Credit on a Blockchain in Malaysia

News Major bank HSBC has announced the successful enactment of a letter of credit (LC) on a blockchain in Malaysia. The transactionEnglish language local fintech news outlet Fintech News Malaysia reported the development on Oct. 14, noting that the transaction involved packaging firm Simply Packag..

Malaysian Finance Ministry: Cryptocurrency Adoption Remains Low

News Malaysia’s finance ministry says both domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. In its Economic Outlook 2020 report released today, the ministry nonetheless noted that several prominent firms i..

Malaysian Ministry of Education Fights Fake Degrees With Blockchain Tech

News The Malaysian Ministry of Education has introduced E-Skrol, an application built on the NEM blockchain to deal with the issue of certificate fraud through the use of blockchain technology. In a Sept. 19 article by local news agency Bernama, the Ministry of Education in Malaysia announced that..

Xendpay Joins RippleNet to Expand Global Money Transfer Services

News Money transfer service Xendpay has joined Ripple’s global transaction network RippleNet to support international transactions. Going beyond the U.S. dollarRipple announced the news on Aug. 20. Per the announcement, RippleNet will allow Xendpay to provide money transfer services beyond the Uni..

Malaysia’s Electric Utility Says Bitcoin Miners Stole $25M in Power

News Malaysian power utility firm Tenaga Nasional Bhd (TNB) is tightening measures in a bid to stem the millions lost to electricity theft by Bitcoin (BTC) miners. According to an Aug. 15 report from EdgeProp, tampered electricity distribution boards used in local Bitcoin mining operations have co..

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