We are happy to report that Sinegy, our favourite Digital Asset Exchange (DAX) has been granted a conditional approval from Securities Commission Malaysia. This means bitcoin and crypto trading can now resume on the Sinegy platform. Congratulations to Kelvyn, Wei Chi, and their hardworking team at Sinegy.
Other DAX players that got the green light from SC include Luno (congratulations David/Aaron) and Tokenize.
Also known to many as crypto exchanges, the operators who received conditional approval from the regulator are namely; Luno Malaysia Sdn Bhd, SINEGY Technologies (M) Sdn Bhd, and Tokenize Technology (M) Sdn Bhd. These 3 operators are given up to 9 months to fully comply with all regulatory requirements prior to receiving a full license (take note). Among the 3 operators, Penang-based SINEGY is the only homegrown startup, Chan Wei Chi, Business Development Head of Sinegy echoed David’s support for the regulation and added that this will enable consumers to invest in a much safer market environment.
Interesting Fact: This important announcement brought Fintechnews offline for a few minutes (this afternoon) due to the surge of visitors. We have a lot of crypto fans in Malaysia!