The Minister of Finance, Yang Berhormat Lim Guan Eng, has announced that the government will set up a new regulatory framework to approve and monitor “Digital Coin and Token Exchanges” in his recent Budget 2019 speech.
This is positive news from a very forward-thinking government, who is embracing innovative technology. It means that cryptocurrency exchanges in Malaysia will soon be regulated under the purview of the Securities Commission.
Once the new regulatory framework is set up, we will apply for a government license. This progress will get us to closer to reactivating deposits, enabling you to trade cryptocurrencies safely and easily again.
In the meantime, while we wait for regulations in the first quarter of 2019, we are still working hard to secure alternative methods for deposits. This remains our top priority.
You can continue to send, receive and trade Bitcoin and Ethereum using Luno as usual. We will release a detailed update as soon as new information is available.
For further details please read our blog post here: https://www.luno.com/blog/en/post/an-open-letter-to-our-malaysian-customers