Importance Notice as of
22 NOV 2018
Dear valued customer,
During the Malaysia Budget 2019 speech, Malaysia Minister of Finance, YB Tuan Lim Guan Eng stated that Securities Commission Malaysia will be coming up with a regulatory framework for cryptocurrencies, and it will be gazetted in 2019. The statement also indicates that the regulator also acknowledges ICOs as one the methods to broaden retail participation and could potentially stimulate more innovative market-based financing options.
In statement issued Securities Commission Malaysia confirms that they are indeed developing a regulatory framework for both ICOs and digital asset exchanges which will come into effect in the 1st quarter of 2019.
Due to the above statement, BITPoint Malaysia has decided to suspend our service for fiat deposit and set the limit for withdraw to RM20,000 per day starting from 22nd November 2018. This is temporarily until Malaysia has set the new regulation for cryptocurrencies exchange.
BITPoint Malaysia are confident that cryptocurrency exchanges in Malaysia will be licensed and regulated under the purview of the Securities Commission. Once a new regulatory framework has been set up, we will apply and obtain a license from the government. With a license, we will be able to re-activate deposits and allow you to trade cryptocurrencies again.
We will keep you updated on our progress as we have many plans for in the future .
We appreciate your continuous support and we apologize for any inconvenience caused.