SC adds crypto exchange Binance to alert list

n its remarks, the SC said Binance was “operating a recognised market without authorisation from the SC”.

KUALA LUMPUR: The Securities Commission has cautioned that Binance, world's largest crypto currency exchange, does not comply with its securities law.

The regulator had added binance to its investor alert list of companies or websites that carry on capital market regulated activities without a licence or registration.

In its remarks, the SC said Binance was “operating a recognised market without authorisation from the SC”.

The SC regulates capital market activities which are dealing in securities; dealing in derivatives; fund management; advising on corporate finance; investment advice; financial planning; and dealing in private retirement schemes; provide services as a market operator; or issue or offer securities without proper approval, authorisation or recognition.

It said the list was not exhaustive and it would be updated periodically.

Those in the LIST OF UNAUTHORISED WEBSITES / INVESTMENT PRODUCTS / COMPANIES / INDIVIDUALS include OctaFX, Amal Trust/ Wakala Ventures, Lindale Ventures, eToro and FintechFX.

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