In a statement issued yesterday, the SC said the Cabinet Special Committee on Anti-Corruption (JKKMAR) had approved its recommendation to require listed companies to put in place anti-corruption measures and a framework to promote the effective discharge of directors
KUALA LUMPUR: The Securities Commission is reviewing the proposed offering of Lavidacoin, touted as a crowdfunding, to determine if it is breaching any securities laws
The regulator said on Monday it had received queries on the issuance of a whitepaper for the offering of Lavidacoin to the public and it cautioned inevstors to be exercise due diligence.
The SC pointed out the whitepaper claims Lavidacoin would be a private funding initiative to raise development capital / funds for three projects.
According to the whitepaper, only through crowdfunding that such a diverse range of projects can meet the development funding needs.
The website lavidacoin.com touts itself as a revolutionary ecosystem for seamless crypto and fiat investments.
The big pre-sale was launched on Aug 20. Each coin is priced at $0.66.
“Lavidapay is the new payment gateway will operate its own blockchain as a data storage medium,” according to the website.
However, the SC said it was reviewing all available information to determine whether there has been any breach of securities laws.
It advised investors to exercise due diligence and to be cautious of the risks of participating in any investment schemes, in particular schemes involving cryptocurrencies and digital tokens.
According to an Utusan Malaysia report, cosmetics queen Datuk Seri Dr Hasmida Othman – beter known as Datuk Seri Vida – is behind the Lavida Coin.
According to the entrepreneur, she came up with the idea after gaining a healthy profit from her investments in cryptocurrencies two years ago.
She then decided to create the Lavida Coin with services from a professional team.
“I believe the Lavida Coin is affordable and capable of generating a handsome amount of money for investors,” she was quoted saying by Utusan Malaysia.
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