The Malaysian Securities Commission (SC) intends to change the procedures for regulating listing digital assets on exchanges. Officials announced the beginning of public consultations, which should last until August 11.

According to the Malaysian regulator, future measures to simplify the listing procedures of tokens will allow the national exchanges of Malaysia to be faster to display new digital assets to the market, as well as expand the range of products of local cryptostartas and blockchain projects.

The regulation reform cancels the need to obtain preliminary approval of SC for listing digital assets, which meet the current regulatory requirements. This means that cryptocurrencies will be able to independently make decisions on launching a token trading on their platform if he successfully passed the public audit of security, and the order of his emission and appeal meets the requirements of the financial measures to combat money (Fatf).

In addition, the regulator intends to expand the requirements for the financial stability and liquidity of the operators of the exchanges (DAX), which involves maintaining the minimum level of DAX equity at not less than $ 1.2 million.

In terms of changes in the requirements for the protection of user assets, the regulator plans to introduce a provision on the mandatory segregation of client assets from its own funds of the cryptocurrency site, as well as their storage on the balance of an independent castodian.

Also in SC, they intend to collect the opinions of market participants on whether it should be allowed on the territory of Malaysia by trading such cryptoactures as Monero, which the agency considers as more risky, compared with traditional cryptocurrencies.

Earlier, the Malaysian Securities Commission accused the Huobi Global crypto -country and its general director Leon Li (Leon Li) in the absence of registration. SC demanded that Huobi immediately disconnect access to its services for local users.