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Malaysian Securities Commission Explores Blockchain Technology In The OTC Market

By

Jeremy

Nation

WriterETHNews.com

During a technology conference, the Securities Commission of Malaysia provided updates on the country's continued FinTech related research.

On November 6, 2017, the Securities Commission (SC) of Malaysia released a statement regarding blockchain technology and other innovations from its SCxSC Digital Finance Conference 2017 in Kuala Lumper.

The annual public symposium is organized by the SC and focuses on the digitization of capital products and services. During a speech, SC Chairman Tan Sri Ranjit Ajit Sing described headway that the commission has made in the digital marketplace. He spoke of the SC's efforts to explore the merits of a pilot project to test a blockchain-based system of management for unlisted over-the-counter (OTC) marketplaces.

Earlier, the SC revealed a Digital Market Strategy that, per the commission, will, "enhance access to financing, increase investor participation, augment the institutional market, and develop synergistic ecosystems."

The blockchain pilot is intended to provide valuable data to the SC as it seeks to both create an industry blueprint and to review regulations that "facilitate functional and effective use cases of digital assets in the capital market, including secondary market trading of established crypto currency and digital assets."

Last September, the governor of Malaysia's central bank said that it would provide guidance on cryptocurrencies before the end of 2017. It remains to be seen how the impact of the SC's pilot program will affect the deliberation of central bank officials.

Jeremy Nation

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.

ETHNews is commited to its Editorial Policy

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