Potential ICO issuers told to check with SC on legality of fundraising efforts

In a statement, the SC said that it has not authorised any ICOs pending the finalisation of its guidelines.

KUALA LUMPUR: The Securities Commission (SC) said potential initial coin offering (ICO) issuers should approach the capital market regulator for clarification on the legality of their fundraising activities.

According to the SC chairman Tan Sri Ranjit Ajit Singh, ICO players face the risk of violating the country’s securities laws in their attempt to raise funds from the public.