SC cautions investors over initial coin offering risks, public urged to seek legal advice

When contacted, Advancecon group chief executive officer Datuk Phum Ang Kia said it was unable to give a new date for the prospectus launch at this juncture, pending queries from the SC.

PETALING JAYA: Following pronouncements of initial coin offerings or ICOs by regulators in many parts of the world, the Securities Commission (SC) has issued a statement cautioning investors on the potential risks involved in these schemes.

The regulator reminded ICO scheme investors to seek legal or other professional advice to address any doubts on the legitimacy of such schemes, seeing that the terms and features of ICO schemes may differ across cases.