To date, there are four registered Digital Asset Exchange operators -- MX Global Sdn Bhd, SINEGY DAX Sdn Bhd, Luno Malaysia Sdn Bhd and Tokenize Technology Sdn Bhd.
DAX is an electronic platform that facilitates the trading of digital assets, allowing investors to trade permitted digital assets such as Bitcoin, Ether, Ripple, Litecoin and Bitcoin Cash."We saw this as an area for greater diversification in investment, greater protection for investors that requires more scrutiny by regulators to enable Malaysians to have wider investment choices,” it said during Media Briefing on DAX today.
Malaysia’s regulated digital market has been relatively small with an average trading volume of less than one per cent of Bursa Malaysia's trading volume, or RM16 million on average per day."In a regulated environment, they will have to go through a vigorous application process in order to get a licence to ensure investor protection, and if something goes wrong, investors are able to seek redress with the SC in accordance with our law,” it said.