SC seeks industry feedback from digital asset wallet providers

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KUALA LUMPUR (July 23): The Securities Commission Malaysia (SC) is seeking industry feedback on the regulatory framework for digital asset wallet providers, which will complement the existing frameworks for the Digital Asset Exchange (DAX) and Initial Exchange Offering (IEO).

Once finalised, the regulatory framework for digital asset wallet providers will be included as part of the Guidelines on Digital Assets (Guidelines).

According to a statement today, the regulator defines digital asset wallet providers as persons who provide custody or storage services on behalf of digital asset owners.

"Such providers play an important role within the ecosystem in safeguarding digital assets of clients. In this regard, existing digital asset wallet providers or any interested parties are requested to contact the SC for an engagement on their current business operations and/or to provide any feedback on the framework for digital asset wallet providers," it said.

Existing providers and interested persons should contact the SC to arrange for an engagement session not later than Aug 14.